Market Updates: Swiss Inflation Remains Stable with 0% Growth
Arslan Butt • 1 min read
The Federal Statistical Office just reported the consumer price index (CPI) data for the Swiss economy. The CPI figures remained stable in June 2019 versus the previous month’s growth of 0.3%. However, the Swiss Franc gained momentum as the inflation beat the negative forecast of -0.1% by releasing at 0%.
Inflation was 0.6% compared with the corresponding month of the preceding year. The stability of the index compared with the previous month is the effect of a reversing trend that offset each other overall.
So far, USD/CHF has not shown much reaction towards to this news as it continues to stay around 0.9865.