Swiss inflation accelerates slightly above expectations in March

The Swiss consumer price inflation accelerated slightly in March. According to the Swiss Federal Statistics Office, the consumer price index rose 0.5 percent sequentially, as compared with the consensus expectations of 0.4 percent and February’s print of 0.4 percent. On a year-on-year basis, the headline inflation accelerated to 0.7 percent from 0.6 percent, as compared with the consensus expectations of 0.6 percent.

The 0.5 percent sequential gain was driven by several factors including rising prices for international package holidays and for air transport. On the contrary, prices for fruiting, vegetables and berries eased in the month.

The Swiss Harmonized Index of Consumer Prices rose 0.3 percent sequentially in March. On a year-on-year basis, the harmonized index of consumer prices rose 0.7 percent.

At 13:00 GMT the FxWirePro's Hourly Strength Index of Swiss franc was bullish at 75.6944 while the FxWirePro's Hourly Strength Index of US Dollar was bullish at 80.237 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex