Swiss consumer prices rose 0.4% YoY in July, down from 0.5% in June and matching median economist forecasts, the Swiss Federal Statistical Office said. Core inflation excluding energy held at 0.3%. Higher diesel and heating-oil costs were offset by price declines in clothing, car rentals and other goods and services. The print contrasts with the Swiss National Bank’s earlier view of a mild, temporary uptick in inflation. Insiders said SNB staff expect policy rates to remain at zero through the e

Swiss consumer prices rose 0.4% YoY in July, down from 0.5% in June and matching median economist forecasts, the Swiss Federal Statistical Office said. Core inflation excluding energy held at 0.3%. Higher diesel and heating-oil costs were offset by price declines in clothing, car rentals and other goods and services. The print contrasts with the Swiss National Bank’s earlier view of a mild, temporary uptick in inflation. Insiders said SNB staff expect policy rates to remain at zero through the end of next year absent new shocks.