Switzerland gets deflation too

First Spain, now Switzerland:

Consumer prices in March were down 0.4% from a year ago, the Federal Statistics Office said, a 50-year low.

The country has been close to deflation all year, with inflation having fallen from a peak of 3.1% in July 2008. The rate was 0.2% in February.

The Swiss National Bank predicts that inflation will average -0.5% this year and remain close to zero throughout 2010 and 2011.

The deflation was blamed on energy, rent and transport costs all falling as a result of lower oil prices.

The year-on-year price fall for March was the biggest since December 1959, when consumer prices fell 0.6%.

Full story at link below.

Switzerland experiences deflation – BBC News

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