According to Swiss statistics, the yearly change in the Swiss consumer price index has risen from -0.1% to 0%. The headline MoM figure fell by 0.4% due to the yearly sell-off in the retail sector.
The difference between euro zone and Switzerland in terms of the European Harmonized Index of Consumer Prices HICP has narrowed to 1.1%. from 1.4% last month. Swiss inflation measured with HICP has increased to 0.5% y/y. Italian and French HICP are at 1.2%, German HICP at 1.9 (source Eurostat).
Still, in February 2012, Eurozone inflation was 2.9%, but the Swiss was -0.9%, a gap of 3.8%. For the SNB, the only good news was that prices of services fell from 0.7% y/y to 0.4% y/y, while goods of Swiss origin are up 0.3%.
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Tags: Eurozone Consumer Price Index,inflation,Switzerland Consumer Price Index