Inflation eases in Switzerland

Swiss annual consumer prices fell for the first time in two years in October, arguably boosting the case for policymakers to cap the strong franc at a lower level. Prices fell 0.1 per cent year-on-year having risen 0.5 per cent a month ago, the Federal Statistics Office said yesterday. Core prices – stripping out volatile components like food, beverages, tobacco and energy – fell 0.5 per cent. Unemployment in Switzerland stuck at three per cent on a seasonally-adjusted basis.