Switzerland Inflation


Switzerland: Consumer prices fall over same month last year for the first time since February

September 9, 2014

In September, consumer prices rose 0.1% over the previous month. The mild increase followed the flat reading observed in August and fell short of market expectations of a 0.2% increase. The increase reflected higher prices for clothing and footwear as well as for alcoholic beverages and tobacco.

Consumer prices fell 0.1% in September over the same month last year. The reading contrasted the 0.1% increase observed in August and represented the first annual drop in prices since February 2014.The inflation rate is still well below the Central Bank’s target of 2.0%. Annual average inflation in October remained unchanged at September’s zero rate.

The Central Bank expects inflation to average 0.1% in 2014. For 2015, the Bank expects inflation to rise to 0.3%. Panelists polled by FocusEconomics see inflation at 0.2% in 2014, which is unchanged from last month’s forecast. For 2015, panelists expect inflation to rise to 0.8%.

Author:, Senior Economist

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Switzerland Inflation Chart

Switzerland Inflation September 2014 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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