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A later Easter failed to provide a boost to Switzerland’s inflation rate in April, which fell back in contrast to much of the rest of Europe.

Consumer prices rose 0.2 per cent in the month, thanks to an increase in the prices of clothing, package holidays and flights.

The monthly increase was in line with forecasts, but the year on year figures were slightly weaker than economists had expected. Prices were 0.4 per cent higher than the same time a year ago, down from 0.6 per cent the previous month and weaker than the 0.5 per cent predicted by economists.

Copyright The Financial Times Limited 2017. All rights reserved.

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