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Switzerland Inflation September 2023

Switzerland: Inflation increases in September but remains mild

Inflation rose to 1.7% in September, slightly above August’s 1.6%. A far softer fall in transport prices more than offset slower food price inflation. That said, inflation remained in line with the Central Bank’s target of below 2.0%. Moreover, price pressures were limp compared to neighbors; euro area inflation was 4.3% in September. This is due to Switzerland’s ingrained low inflation expectations, the franc’s strength against the euro, and mild wage growth.

Annual average inflation fell to 2.5% in September (August: 2.6%).

Lastly, consumer prices dropped 0.08% in September over the previous month, swinging from August’s 0.21% rise.

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