Switzerland Inflation January 2017


Switzerland: Inflation returns for first time since August 2014

February 14, 2017

Consumer prices were unchanged from the previous month in January, which was slightly above December’s 0.1% slip and also above market expectations of a 0.1% drop. The figure was the result of a mix of price decreases for clothing and footwear and price increases for energy-related products such as transportation and heating.

In January, inflation came in at 0.4%. This marked the first time since August 2014 that the annual change in consumer prices recorded a positive value and the highest seen in over five years (December: 0.0% year-on-year). The annual average variation in consumer prices registered minus 0.3% in January (December: -0.4%).

The Central Bank projects that prices will increase 0.1% in 2017 and 0.5% in 2018. Panelists polled by FocusEconomics expect consumer prices to increase 0.4% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect inflation of 0.8%.

Author: Marlène Rump, Senior Data Analyst

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Switzerland Inflation Chart

Switzerland Inflation January 2017 0

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Swiss Federal Statistics Office (BFS).

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