Switzerland: Consumer prices record smallest fall since March in October
November 3, 2020
Consumer prices increased 0.01% over the previous month in October, swinging from September's 0.04% fall. The rebound in price pressures was primarily due to a recovery in prices for healthcare, and restaurants and hotels.
Consumer prices decreased 0.6% on an annual basis in October, a more moderate drop compared to September’s 0.8% fall. October's result marked the smallest fall in consumer prices since March. The annual average variation of consumer prices was unchanged at September’s minus 0.6% in October. Ongoing deflation will ensure the Swiss National Bank maintains its extremely expansionary monetary policy.
Author: Oliver Reynolds, Economist