Inflation in Switzerland
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 |
Switzerland Inflation Chart
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.
Switzerland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.51 | 6.27 % | Jan 01 |
| Exchange Rate | 0.97 | -0.54 % | Jan 01 |
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Economic News
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Switzerland: Inflation declines to lowest level since May in October
November 3, 2022
Inflation fell to 3.0% in October, from September’s 3.3%.
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Switzerland: Manufacturing PMI records worst reading since October 2020 in October; services PMI improves
November 2, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) came in at 54.9 in October, down from September's 57.1.
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Switzerland: KOF Economic Barometer eases in October
October 31, 2022
The KOF Economic Barometer fell to 90.9 in October from September's 92.3.
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Switzerland: Retail sales record quickest growth since February in September
October 31, 2022
Retail sales increased 3.2% year on year in calendar-adjusted terms in September, which was above August's 2.1% increase.
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Switzerland: Inflation dips to lowest level since May in September
October 3, 2022
Inflation came in at 3.3% in September, which was down from August’s 3.5%.
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