Switzerland Inflation


Switzerland: Consumer prices unchanged in year-on-year terms

November 5, 2014

In October, consumer prices were unchanged over the previous month, which came in below the 0.1% increase observed in September but above the 0.1% drop the markets had expected. The subdued print reflected that higher prices for clothing and footwear offset lower prices for food and non-alcoholic beverages as well as for petroleum products.

Compared to the same month last year, consumer prices also were unchanged in October, which was up from the 0.1% decrease registered in September. Inflation in Switzerland remains well below the Swiss National Bank’s target of 2.0%. Annual average inflation remained unchanged at September’s zero in October.

The Central Bank expects inflation to average 0.1% in 2014. For 2015, the Bank expects inflation to rise to 0.2%. 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%, which is unchanged from last month’s forecast.

Author:, Senior Economist

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Switzerland Inflation Chart

Switzerland Inflation October 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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