Switzerland Inflation September 2016

Switzerland

Switzerland: Annual drop in consumer prices worsens in September

In September, consumer prices increased 0.1% from the previous month, just under market expectations of 0.2%, in a timid rebound from August’s 0.1% decrease. September’s reading was driven by higher prices for clothing and footwear as summer sales ended, as well as for oil products.

In annual terms, consumer prices fell 0.2% in September, which was below August’s result (-0.1% year-on-year). The annual average variation in consumer prices registered minus 0.7% in September, the highest result in over a year. (August: -0.8% yoy).

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 0.5%.


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Switzerland Inflation Chart


Switzerland Inflation September 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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