-
Swiss Inflation Unexpectedly Slows as Goods Costs Decline
Swiss inflation unexpectedly eased — offering reassurance to Swiss National Bank officials who’ve lowered borrowing costs for two straight meetings. Consumer prices rose 1.3% from a year ago in June, the statistics office said Thursday. That’s less than economists estimated and down from May’s 1.4%, which was the fastest clip this year. The slowdown was helped by a 0.2% annual decline in the cost of goods, while services were up 2.4%. Core inflation also moderated to 1.1%, defying expectations for it to quicken. The Swiss franc fell on the data, easing 0.3% versus the euro to 0.9753 — its weakest in a ... (full story)