Switzerland: Inflation holds steady in November
Inflation was stable at October’s 3.0% in November, the joint-weakest inflation rate since May and far lower than the corresponding EU-average reading of 11.1%. Novembers stable inflation figure was largely driven by a softer increase in prices for housing and energy being offset by faster food price inflation.
Annual average inflation edged up to 2.7% in November (October: 2.6%).
Finally, consumer prices were flat in November over the previous month, following the 0.05% increase seen in October.
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.