Switzerland Inflation


Switzerland: Inflation rises to highest level in nearly three years

June 6, 2014

Consumer prices added 0.3% over the previous month in May. The reading was slightly up from the 0.1% rise registered in April and came in just barely above the 0.2% increase the market had expected. May’s increase was driven by higher prices for foodstuffs as well as for clothing and footwear.

As a result of the monthly jump, annual headline inflation rose from a flat reading in April to 0.2% in May, which constituted the highest rate since September 2011. Despite the in strong increase, the inflation rate remains well below the Bank’s 2.0% target. Annual average variation in consumer prices rose from minus 0.1% in April to zero in May.

The Central Bank expects inflation to remain flat in 2014. For 2015, the Bank expects inflation to rise to 0.4%. Panelists polled by FocusEconomics see inflation at 0.2% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, panelists expect inflation to rise to 0.9%.

Author:, Senior Economist

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Switzerland Inflation Chart

Switzerland Inflation May 2014

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

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