Inflation in Switzerland

Switzerland Inflation | Economic News & Forecasts

Switzerland - Inflation

Inflation declines to lowest level since May in October

Inflation fell to 3.0% in October, from September’s 3.3%. October's figure represented the lowest inflation rate since May and was less than a third of the corresponding figure for the Euro area. The October reading was primarily due to much softer transport price inflation amid lower international energy prices, which more than offset faster food price inflation.

Annual average inflation rose to 2.6% in October (September: 2.5%).

Finally, consumer prices increased 0.05% over the previous month in October, contrasting September's 0.18% drop.

Inflation will remain very mild in the broader European context going forward, thanks to the country’s limited reliance on fossil fuels for electricity generation, ingrained low inflation expectations, the franc’s appreciation this year against the euro, and mild wage growth.

FocusEconomics Consensus Forecast panelists expect consumer prices to rise 2.2% on average in 2023, which is up 0.1 percentage points from last month’s forecast. For 2024, panelists pencil in average inflation of 1.2%.

Switzerland - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)-1.1  -0.4  0.5  0.9  0.4  

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Switzerland Inflation Chart

Switzerland Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.

Switzerland Facts

Value Change Date
Bond Yield-0.516.27 %Jan 01
Exchange Rate0.97-0.54 %Jan 01

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