- Cornelia Luchsinger from Zürcher Kantonalbank
Swiss consumer price inflation rose last month, in line with analysts' expectations, the Swiss Federal Statistical Office reported on Monday. CPI in Switzerland added 0.3% compared with the previous month, while was down by 0.4%from a year ago.
"In August we had month on month inflation flat, the negative price dynamics are flattening out now and getting positive again. We expect month on month inflation to be positive and year-on-year inflation to be positive by the end of the year," said Cornelia Luchsinger from Zürcher Kantonalbank (ZKB).
Also Monday, the State Secretariat for Economic Affairs said Swiss unemployment rate remained unchanged last month at 2.9 per cent level, as employers are holding onto their workers even as the economy slows. Analysts had predicted Swiss jobless rate to rise to 3.0 per cent in September.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies fell 0.29 per cent to 6,655.77. The broader Swiss Performance Index turned lower 0.32 per cent to 6,142.73.
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