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Switzerland Inflation April 2021

Switzerland: Inflation comes in at over one-year high in April

Consumer prices rose 0.21% from the previous month in April, slowing down from March’s 0.34% rise. The reading was driven by falling prices for housing and energy, and softer price growth for transportation.

Inflation came in at 0.3% in April, swinging from March’s 0.2% year-on-year drop in consumer prices. April’s reading marked the highest inflation rate since June 2019. The annual average variation of consumer prices rose to minus 0.7% in April (March: -0.8%).

Inflation is expected to pick up later this year, supported by a weaker franc, higher oil prices and stronger activity. However, price pressures will be muted nonetheless, which will ensure the Swiss National Bank maintains its extremely expansionary monetary policy.

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