Switzerland Inflation March 2016


Switzerland: Annual fall in consumer prices continues in March

April 8, 2016

In March, consumer prices increased 0.3% over the previous month, which was slightly higher than February’s 0.2% rise and marked the fastest monthly rise in twelve years. March’s result, which was in line market expectations, came mainly on the back of higher prices for clothing and shoes.

In annual terms, consumer prices fell 0.9% in March, which was marginally below February’s 0.8% decrease. Inflation is still well below the Central Bank’s target of 2.0%. The annual average variation in consumer prices was unchanged at February’s minus 1.2% in March.

The Central Bank expects consumer prices to record an annual drop of 0.55% in 2016. Panelists polled by FocusEconomics expect consumer prices to fall 0.6% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, panelists expect inflation of 0.4%.

Author: Marlène Rump, Senior Data Analyst

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Switzerland Inflation Chart

Switzerland Inflation March 2016 2

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

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