In April, consumer prices rose 0.1% over the previous month, which was below the 0.6% increase observed in March and in line with market expectations. According to the statistical institute, the main drivers behind the monthly increase were higher prices for transport as well as for clothing and footwear, which were partially offset by lower prices for alcoholic beverages and tobacco. Despite the monthly increase, annual consumer prices dropped 1.0%, which followed a decline of the same magnitude in March. The reading represents the seventh consecutive fall. At the current level, annual consumer prices remain well below the Swiss National Bank's 2.0% inflation target. Inflation is likely to remain in negative territory, as a strong Swiss franc lowers the cost of imports. The Swiss National Bank predicts inflation to average minus 0.6% this year. For 2013, the Bank sees inflation rising to 0.3%.
Inflation falls for seventh consecutive month
May 7, 2012
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Switzerland Inflation Chart
Note: Month-on-month changes and annual variation of consumer price index in %.
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.
Switzerland Economic News
October 6, 2016
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.
October 3, 2016
In August, retail sales contracted a seasonally- and working-day adjusted 3.0% over the same month last year.
October 3, 2016
In September, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 53.2 points, beating August’s 51.0 points.
September 30, 2016
Switzerland’s KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—edged up from 99.7 points in August to 101.3 points in September.
September 15, 2016
At its 15 September meeting, the Swiss National Bank (SNB) decided to maintain the target range for the three-month Libor at between minus 1.25% and minus 0.25%, which met market expectations.