Swiss inflation rate drops to 0%
The Swiss consumer price index calculated by the Federal Statistical Office (FSO) fell by 0.5% in the December, while average annualised inflation dropped to 0.0%.
Consumer prices declined by an annual 0.3% in December, following a 0.1% drop in November. This represents the lowest level of inflation in more than a year.
The Swiss National Bank has earlier announced the introduction of negative deposit rates as of 22 January 2015, in a bid to ward of deflation and maintain the minimum exchange rate of 1.20 CHF per Euro.