Switzerland: Inflation inches down to 0.7% in January
Consumer prices fell 0.1% on a monthly basis in January, following a flat month-on-month reading in December. January’s reading was driven largely by lower prices for outpatient medical services, as well as by steep discounts in the air transport and clothing and footwear categories.
Inflation softened to 0.7% in January, down from 0.8% in December. Despite ticking down in January on a slower rise in fuel prices, inflation has been supported in recent months by higher prices at the pump and rising rent. Moreover, annual average inflation increased slightly from 0.5% in December to 0.6% in January, the highest level in nearly seven years.