Switzerland Inflation


Consumer prices continue to fall in November

In November, consumer prices fell 0.3% over the previous month, which contrasted the 0.1% increase recorded in October and was below market expectations, which had consumer prices remaining flat. According to the statistical institute, lower prices for transport as well as for food and non-alcoholic beverages were the main contributors to the monthly decline.

As a result of the monthly drop, consumer prices fell 0.4% over the same month last year, which was below the 0.2% decline recorded in October. The reading marked the 14th consecutive month of annual deflation and currently sits well below the Swiss National Bank's 2.0% inflation target. The Swiss Statistics Office expects consumer prices to fall 0.7% this year. For 2013, the Office sees inflation rising to 0.2%, which is down from its previous 0.5% estimate.

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Switzerland Inflation Chart

Switzerland Inflation November 2012

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

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