Switzerland Inflation


Consumer prices unchanged over March last year

Consumer prices jumped 0.4% over the previous month in March. The reading came in above both the 0.1% rise registered in February and the 0.2% rise the market had expected. March's increase reflected higher prices for clothing and footwear as well as for food and non-alcoholic beverages.

Consumer prices were unchanged over the same month last year in March. The figure came in above both the 0.1% fall observed in February and the 0.2% decrease the market had expected. The inflation rate remains well below the Bank's 2.0% target. The annual average variation in consumer prices rose from minus 0.2% in February to minus 0.1% in March.

In March, the Central Bank revised its inflation projections and now expects inflation to remain flat in 2014 (previous estimate: +0.2%). For 2015, the Bank expects inflation to rise to 0.4%, below its previous 0.6% estimate. Panelists polled by FocusEconomics see inflation at 0.3% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, panelists expect inflation to rise to 0.9%.

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Switzerland Inflation Chart

Switzerland Inflation March 2014

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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