Consumer sentiment remained unchanged between April and July 2016 and is now below the long-term average for the fifth quarter in a row. Most sub-indices also saw no major change, except regarding inflation, with the 1,200 or so individuals questioned expecting prices to rise more sharply over the next twelve months than they had in April. There was also a belief in July that prices had been rising faster over the previous twelve months than had been the case at the time of the April survey. Nevertheless, both indices remain well below the corresponding average.

The Swiss consumer sentiment index has languished below the long-term average of -9 points since the survey undertaken in July 2015. It saw no change between April and July 2016, sticking at -15 points.