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.
Author: Ricardo Aceves, Senior Economist