Switzerland Inflation April 2020


Switzerland: Consumer prices post greatest fall since January 2016 in April

May 5, 2020

Consumer prices fell 0.4% over the previous month in April, contrasting the 0.1% increase seen in March. Looking at the details of the release, prices of transportation and restaurants and hotels dropped at more pronounced rates in April, while housing and energy, and healthcare prices also declined, albeit at softer paces than in March. On the other hand, prices for food and non-alcoholic beverages rose higher in the month.

Consumer prices fell 1.1% year-on-year in April, a larger decrease compared to March’s 0.5% drop. April's figure was the largest fall in consumer prices in over four years. Meanwhile, average annual consumer prices were flat in April (March: 0.2%).

FocusEconomics Consensus Forecast panelists expect consumer prices to fall 0.5% in 2020, which is down 0.2 percentage points from last month’s forecast. For 2021, panelists pencil in average inflation of 0.4%.

Author:, Economist

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Switzerland Inflation Chart

Switzerland Inflation April 20 20

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

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