BERN: Inflation in the country ticked up in August, as the recent sell-off in the Swiss franc helps to ease some of the downward pressure on prices that has been afflicting Switzerland in recent years. Prices were stagnant over the month – an improvement after a decline in July. On a year on year basis, inflation climbed to 0.5 per cent, from an upwardly-revised 0.4 per cent in July.
Switzerland has long struggled to boost inflation, as the franc’s reputation as a haven has seen investors pile in to the currency, driving down the cost of imports. However, the currency has weakened in recent months, falling more than 4 per cent against the euro so far in the third quarter.
