RTTNews - Tuesday, Switzerland's Federal Statistical Office said the consumer price index or CPI dropped 1.2% year-over-year in July, compared to the 1% fall in June. Economists were looking for a decline of 1.1%. A year ago, the rate of inflation was 3.1%.

On a monthly basis, consumer prices dropped 0.7% in July, in contrast to the 0.2% increase in the preceding month. Economists had expected a decline of 0.5%.

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