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Switzerland Inflation October 2023

Switzerland: Inflation remains steady in October

Inflation was stable at September’s 1.7% in October, in line with the Central Bank’s target of below 2.0%. Inflation remained mild compared to neighbors—euro area inflation was 2.9% in October—due to Switzerland’s ingrained low inflation expectations, the franc’s strength against the euro, and mild wage growth. Lower inflation for food and housing was offset by a notably softer fall in transport prices.

Annual average inflation edged down to 2.4% in October (September: 2.5%).

Lastly, consumer prices increased 0.09% over the previous month in October, contrasting the 0.08% drop recorded in September.

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