Switzerland's consumer prices declined 1 percent year-on-year in May, the same rate of decline as seen in April, the Federal Statistical Office said Thursday. Also, the rate came in line with economists' expectations. On a monthly basis, the consumer price index remained flat in May, matching forecast. Clothing and footwear logged the biggest annual fall of 6.6 percent. Household maintenance cost dipped 2.4 percent and food and non-alcoholic beverages slipped 1.6 percent. The think tank KOF institute forecast consumer prices to drop 0.3 percent this year, but to rise 0.8 percent in 2013. (full story)