Switzerland Inflation October 2016

Switzerland

Switzerland: Annual drop in consumer prices stable in October

In October, Swiss consumer prices increased 0.1% from the previous month, which mirrored September’s change and was just under market expectations of a 0.2% increase. The reading was driven by higher prices for clothing and footwear as the winter collection came into stores as well as by increased prices for crude oil products.

In annual terms, consumer prices fell 0.2% in October, which also matched September’s reading. Consumer prices have recorded negative changes for 24 consecutive months. The annual average variation in consumer prices registered minus 0.6% in October, the highest result in over a year (September: -0.7%).

The Central Bank projects that prices will drop on average 0.4% this year before rebounding and increasing 0.2% in 2017. Panelists polled by FocusEconomics expect consumer prices to fall 0.4% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect inflation of 0.4%, which is down 0.1 percentage points from last month’s estimate.


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Switzerland Inflation Chart


Switzerland Inflation October 2016 0

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Swiss Federal Statistics Office (BFS).


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