Switzerland April CPI +1.4% vs +1.1% y/y expected

• Prior +1.0%
• Core CPI +1.2% y/y
• Prior +1.0%

After having talked about successfully beating inflation, this is a minor setback for the SNB. Headline annual inflation was a beat on estimates, coming in at 1.4% with core annual inflation also ticking higher to 1.2%. Still, the numbers are keeping well below the crucial 2% mark for now. And that’s the important thing in vindicating the SNB’s policy pivot.

This article was written by Justin Low at www.forexlive.com.