ZURICH, Jan 11 (Reuters) - Swiss consumer prices fell 0.4

percent in December from a year ago and were 0.2 percent lower

compared with the previous month, the Federal Statistics Office

said on Friday.

ANALYSTS' COMMENTS

BERND HARTMANN, VP BANK

'Inflation was still in negative territory in December at

-0.4 percent. Even though the distorting effects from the rise

in the Swiss franc are fading out, we're still waiting for

positive inflation rates. We are, however, expecting inflation

to turn positive in coming months.

'The upbeat comments from ECB chairman Draghi on the

economic development in the euro zone have significantly

supported the euro. Giving up the exchange rate floor is not on

the agenda (of the SNB) so there is no inflation pressure from

the exchange rates.

'On the whole, the economy is only slowly picking up speed,

meaning we will not see high inflation rates in 2013.'

KEY POINTS FROM THE SURVEY

*'The drop ... is mainly due to lower prices for drugs,

organised travel, oil products and clothing, while prices in

public transport rose.'

For more details of the Federal Statistics Office statement

in German, Reuters 3000 Xtra users can click on:

www.bfs.admin.ch/bfs/portal/de/index/news/medienmitteilungen.htm

CONSUMER PRICE

INDEX

Dec Nov Dec

2012 2012 2011

Pct change m/m -0.2 -0.3 -0.2

Pct change y/y -0.4 -0.4 -0.7

Index (DEC 2010 = 98.9 99.1 99.3

100)

Core infl. 1* y/y -0.6 -0.6 -1.1

pct

Core infl. 2* y/y -0.7 -0.7 -1.6

pct

*Core inflation 1 strips out volatile price components like

food, beverages, tobacco, seasonal products, energy and fuel;

core inflation 2 also strips out administered prices.

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