USD/CHF regains ground due to lower-than-expected Swiss inflation. The Swiss CPI came in at 1.3%, down from May's four-month high and below the market expectation of 1.4%. Fed’s Austan Goolsbee stated that bringing inflation back to 2% will require time. The Swiss Franc struggles due to a slowdown in Swiss inflation. The Consumer Price Index for June decreased to 1.3% year-over-year, from May's four-month high and below market expectations of 1.4%.
Headline inflation is usually expressed as a percentage change on a month-on-month and year-on-year basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
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