Swiss Inflation Falls from Record High, GDP Fails to Meet Expectations

Headline inflation for Switzerland crossed the wires weaker than expected, with consumer prices easing to 2.9% from a 15 year high of 3.1%. The recent fall in oil and food prices has helped to limit upside inflation risks for the Swiss economy, with SNB President Jean Pierre Roth holding a neutral outlook as he expects inflation to recede in the following months as economic activity continues to cool.