Swiss inflation slips more than expected in November, raises concern for SNB

Switzerland consumer prices fell more than expected in November, data released by the Federal Statistical Office showed on Tuesday. Swiss November CPI inflation fell 0.2 percent in November compared to the 0.1 percent advance recorded for October. The data missed expectations for a 0.1 percent decline for the month.

On an annualised basis, the decline in prices of 0.3 percent compared with an annual decline of 0.2 percent for the previous month, which was also slightly weaker than expected. The persistent negative annual rate will remain a concern for the Swiss National Bank. There has been a decline in the annual rate since the August reading of -0.1 percent.

The Swiss franc was little changed against its major rivals after the data, The Swiss franc was trading at 1.0839 against the euro, 1.2818 against the pound, 1.0058 against the U.S. dollar and 113.16 against the yen.

FxWirePro's Hourly EUR Spot Index was at 42.9564 (Neutral), while Hourly USD Spot Index was at -77.4707 (Bearish) at 1320 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex