Swiss consumer prices declined for the first time in three months in February, the Federal Statistical Office reported Wednesday.
Consumer prices dropped 0.1 percent on a yearly basis, after rising 0.2 percent each in December and January. Economists had forecast inflation to slow to 0.1 percent.
Month-on-month, consumer prices edged up 0.1 percent driven by rising prices for air transport and international package holidays. Prices were expected to rise 0.2 percent after falling 0.2 percent in January.
The Swiss National Bank forecast inflation to slow to 0.1 percent in 2020 before rising to 0.5 percent in 2021.