Switzerland Inflation Rate Up to -0.3 Percent in January

The Swiss Consumer Price Index calculated by the Federal Statistical Office registered a decline of 0.3% in January 2013. Compared with annualised rates the inflation was -0.4% in December 2012 and -0.8% in January 2012.

The decline in the national index in January of 2013 to 0.3 percent was mainly due to the winter clearance sale in the clothing sector. The major downward pressures came from: clothing (-10.3 percent), household equipment and routine household maintenance (-1.0 percent), recreation & culture (-0.3 percent), health care (-0.2 percent), and residential and energy (-0.1 percent).

The biggest upward pressures came from: alcoholic beverages and tobacco (+1.4 percent), restaurants and hotels (+1.1 percent), food and non-alcoholic beverages (+0.8 percent), other goods and services (+0.2 percent) and transport (+0.2 percent). The index of communication services remained unchanged in January, while for education no survey was held.

FSO | Nuno Fontes | nuno@tradingeconomics.com
2/13/2013 1:29:52 PM