Switzerland Inflation November 2016


Switzerland: Annual drop in consumer prices steepens in November

December 6, 2016

In November, consumer prices decreased 0.2% from the previous month, which contrasted October’s 0.1% increase and was lower than market expectations of a 0.1% decrease. The reading was driven by lower prices for imports, such as hotel stays and package holidays.

In annual terms, consumer prices fell 0.3% in November, which was also below October’s reading of a 0.2% decline. The annual average variation in consumer prices registered minus 0.5% in November, the highest result in over a year (October: -0.6%).

The Central Bank projects that prices will increase 0.2% in 2017. Panelists polled by FocusEconomics expect consumer prices to increase 0.4% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect inflation of 0.8%.

Author: Marlène Rump, Senior Data Analyst

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Switzerland Inflation Chart

Switzerland Inflation November 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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