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Investing.com -- Switzerland’s annual inflation rate unexpectedly dropped to zero in November, down from 0.1% in October, according to official data released Wednesday.
The latest figure came in slightly below economists’ expectations, as analysts had forecast the inflation rate would remain steady at 0.1% for the month.
Data from the Federal Statistics Office showed that compared to the previous month, the Swiss consumer price index fell by 0.2%, matching forecasts.
Several factors contributed to the monthly decrease in consumer prices, including lower costs for hotels and package holidays. Price reductions were also observed for new cars and certain vegetables, the statistics office reported.
The unexpected slowdown in Switzerland’s inflation rate marks a significant development for the Swiss economy as price growth has now reached the zero mark.
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