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Swiss Inflation Slows For Third Month

Switzerland's headline consumer price inflation slowed for a third straight month in January, preliminary data from the Federal Statistical Office showed on Monday.

The consumer price index rose 0.6 percent year-on-year after a 0.7 percent increase in December. The easing was in line with economists' expectations.

Compared with the previous month, prices fell 0.3 percent in January, same as in the previous two months. Prices fell for a third month in a row.

The statistical office attributed the monthly decline to several factors including falling prices for clothing and footwear due to seasonal sales. Prices of heating oil and medicines decreased.

Meanwhile, prices for hotel accommodation and electricity rose in January.

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