Swiss CPI Steady After Falling For 2 Years

Consumer prices in Switzerland were unchanged year-on-year in December of 2016, following 25 consecutive months of decline and matching market expectations. Higher prices of housing and utilities, food and restaurants and hotels were offset by falling cost of health, transport and recreation and culture. Considering full 2016, consumer prices were down 0.4 percent on average, in line with government and central bank forecasts.

Year-on-year, main upward pressure came from cost of housing and utilities (1.5 percent vs 0.6 percent in November); food and non-alcoholic beverages (0.9 percent vs 0.8 percent in November) and restaurants and hotels (0.1 percent vs -0.1 percent in November). In contrast, biggest downward impact came from health (-0.6 percent, the same as in November); transport (-0.3 percent vs -1.7 percent in November) and recreation and culture (-0.1 percent vs -0.4 percent in November).

On a monthly basis, consumer prices edged down 0.1 percent, following a 0.2 percent drop in the previous period, mainly due to lower cost for tour packages, clothing and footwear and food. In contrast, prices rose for fuel, public transportation and air transport.

Swiss Federal Statistical Office | Joana Taborda |
1/5/2017 8:43:01 AM