Swiss Inflation Rate Unchanged at Near 7-Year High

Swiss consumer price inflation stood at 0.8 percent year-on-year in December 2017, unchanged from the the previous month's seven-year high and in line with market consensus.

Upward pressure came from: housing and utilities (0.9 percent from 1.1 percent in November); transport (1.3 percent from 2 percent); food and non-alcoholic beverages (0.6 percent from 0.3 percent); recreation and culture (1.4 percent from 1.5 percent); and restaurants and hotels (0.6 percent from 0.4 percent). By contrast, prices continued to fall for health (-0.2 percent, the same pace as in November) and furnishings and household equipment (-0.2 percent from -0.8 percent).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, edged up to 0.7 percent from 0.6 percent in November. It was the highest rate since August 2009.

On a monthly basis, consumer prices were unchanged, following a 0.1 percent fall in November and beating market consensus of a 0.1 percent decline. Prices rose mainly for restaurants and hotels (0.5 percent) and transport (0.3 percent), but fell for food and non-alcoholic beverages (-0.7 percent) and recreation and culture (-0.3 percent).

In 2017, the CPI rose 0.5 percent.

Swiss Inflation Rate Unchanged at Near 7-Year High

Swiss Federal Statistical Office | Joana Ferreira |
1/8/2018 8:37:36 AM