BRUSSELS (dpa-AFX) - Switzerland's consumer prices declined the most in over four years in April, the Federal Statistical Office reported Tuesday.
Consumer prices decreased 1.1 percent year-on-year in April, following a 0.5 percent fall in March. Economists had expected a 0.8 percent decline.
The latest decline was the worst since January 2016, when prices fell 1.3 percent.
On a monthly basis, consumer prices fell 0.4 percent in April, after a 0.1 percent rise in the previous month. Economists had expected a 0.1 percent decline.
The monthly decline was driven by falling prices for air transport, hotel accommodation and petroleum products. In contrast, prices for vegetables and clothing increased, the agency reported.
The core CPI fell 0.5 percent annually in April and declined 0.2 percent from the previous month.
The EU measure of harmonized index of consumer prices rose 0.1 percent monthly in April and fell 0.1 percent from the previous year.
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