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Switzerland Inflation February 2024

Switzerland: Inflation drops to lowest level since September 2021 in February

Inflation came in at 1.2% in February, down from January’s 1.3%. February’s figure marked the weakest inflation rate since September 2021 and was in line with the Central Bank’s target of below 2.0%. Inflation remained mild compared to neighbors—Euro area inflation clocked 2.6% in February—thanks to Switzerland’s ingrained low inflation expectations, the franc’s strength against the euro, and mild wage growth. February’s downtick was driven by a softer rise in food prices more than offset rising price pressures for housing and energy and transportation.

Annual average inflation fell to 1.8% in February (January: 2.0%).

Lastly, consumer prices increased 0.64% over the previous month in February, accelerating from January’s 0.17% rise. February’s figure was the highest reading since February 2023.

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