Consumer prices rose 0.1% over the previous month in February. The reading contrasted the 0.3% fall registered in January, but fell short of the 0.2% increase that markets had expected. The monthly increase reflected higher prices for clothing and footwear-which were mainly driven by end of winter sales-as well as for housing and housing maintenance, which mainly reflected higher apartment rentals. Consumer prices fell 0.1% over the same month last year in February, which marked the first decrease following three consecutive months of increase in consumer prices. The inflation rate remains well below the Bank's 2.0% target. The annual average variation in consumer prices fell 0.2% in February, which followed a similar decrease in January. The Central Bank expects inflation to increase in 2014 and to average 0.2%. For 2015, the Bank expects inflation to rise further to 0.6%. Panelists polled by FocusEconomics see inflation at 0.4% in 2014, which is unchanged from last month's forecast. For 2015, panelists expect inflation to rise to 1.0%.
Inflation returns to negative territory in February
March 7, 2014
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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.