Swiss consumer prices unexpectedly remained unchanged in July, snapping 21 months of declines.
Prices held steady from a year earlier after dropping 0.1 percent in June, the Federal Statistics Office in Neuchatel said in an e-mailed statement today. Economists expected an annual decline of 0.1 percent, according to the median of 15 estimates in a Bloomberg News survey.
The Swiss National Bank (SNBN) imposed a franc ceiling of 1.20 versus the euro in September 2011 to fight deflation threats. Even so, consumer prices continued to drop and before last month were in their longest stretch since at least 1971, according to data compiled by Bloomberg.
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