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.
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:
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
Core infl. 1* y/y -0.6 -0.6 -1.1
Core infl. 2* y/y -0.7 -0.7 -1.6
*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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Keywords: SWISS ECONOMY/CPI
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