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Switzerland Inflation October 2022

Switzerland: Inflation declines to lowest level since May in October

Inflation fell to 3.0% in October, from Septembers 3.3%. October’s figure represented the lowest inflation rate since May and was less than a third of the corresponding figure for the Euro area. The October reading was primarily due to much softer transport price inflation amid lower international energy prices, which more than offset faster food price inflation.

Annual average inflation rose to 2.6% in October (September: 2.5%).

Finally, consumer prices increased 0.05% over the previous month in October, contrasting September’s 0.18% drop.

Inflation will remain very mild in the broader European context going forward, thanks to the countrys limited reliance on fossil fuels for electricity generation, ingrained low inflation expectations, the francs appreciation this year against the euro, and mild wage growth.

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