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Swiss Inflation Rate Holds Steady at Near 2-Year High
Switzerland's consumer price inflation rate stood at 0.6 percent year-on-year in June 2021, unchanged from the previous month's near two-year high and slightly below market expectations of 0.7 percent, reflecting a low base year due to the pandemic and a recovery in domestic demand following the easing of restrictions. Main upward pressure came from housing and utilities (1.4 percent vs 1.3 percent in May), transport (4.7 percent vs 4.0 percent), and restaurants and hotels (1.6 percent, the same as in May). Meanwhile, miscellaneous goods and services cost rose at a softer pace (0.2 percent vs 0.4 percent), while prices continued to fall for health (-0.3 percent, the same as in May), food and non-alcoholic beverages (-2.8 percent vs -2.1 percent), and recreation and culture (-0.9 percent vs -1.1 percent). On a monthly basis, consumer prices edged up 0.1 percent in June, following a 0.3 percent gain in May.
Published on 2021-07-01

Swiss Inflation Rate Rises to Near 2-Year High
Switzerland's consumer price inflation rate picked up to 0.6 percent year-on-year in May 2021, the highest since June 2019, as the economic recovery from the coronavirus crisis gathered pace. Main upward pressure came from housing and utilities (1.3 percent vs 0.9 percent in April), transport (4.0 percent vs 2.8 percent), restaurants and hotels (1.6 percent vs 1.2 percent), and miscellaneous goods and services (0.4 percent vs 0.0 percent). On the other hand, cost continued to fall for health (-0.3 percent, the same as in April), food and non-alcoholic beverages (-2.1 percent vs -2.0 percent), and recreation and culture (-1.1 percent vs -0.8 percent). On a monthly basis, consumer prices rose 0.3 percent in May, following a 0.2 percent gain in April.
Published on 2021-06-07

Swiss Consumer Prices Rise for 1st Time in 15 Months
Switzerland's consumer price inflation rate rose to 0.3 percent year-on-year in April 2021, ending a 14-month period of price deflation and matching market expectations. Main upward pressure came from housing and utilities (0.9 percent), transportation (2.8 percent) and restaurants and hotels (1.2 percent), while cost for miscellaneous goods and services was unchanged. On the other hand, prices declined for health (-0.3 percent), food and non-alcoholic beverages (-2.0 percent), and recreation and culture (-0.8 percent). On a monthly basis, consumer prices rose 0.2 percent in April, following a 0.3 percent gain in March.
Published on 2021-05-05

Switzerland Deflation Softens
Consumer prices in Switzerland were down 0.2 percent year-on-year in March of 2021, compared to forecasts of a 0.3 percent drop. It is the lowest deflation rate since February of 2020. Prices of recreation and culture (-1.9 percent), food and non-alcoholic beverages (-1.5 percent), clothing and footwear (-1.1 percent) and communication (-1.1 percent) recorded the biggest decreases. On a monthly basis, consumer prices increased 0.3 percent due to rising prices for clothing and footwear amid the end of the seasonal sales. Heating oil also recorded a price increase, as did fuel. In contrast, prices for fruiting vegetables and pasta decreased.
Published on 2021-04-01

Switzerland CPI Declines 0.5%
Consumer prices in Switzerland fell 0.5 percent percent year-on-year in February of 2021, the same as in January and compared to market forecasts of a 0.3 percent drop. The reading marks the 13th consecutive month of deflation, with cost of recreation and culture (-2.3 percent) and transport (-1.6 percent) recording the biggest decreases. On a monthly basis, prices edged up 0.2 percent, above 0.1 percent in January, mainly due to several factors including rising prices for clothing and footwear amid the end of the seasonal sales. Housing rentals also recorded a price increase, as did fuel. In contrast, prices for berries and medical products decreased.
Published on 2021-03-03

Switzerland CPI Continues to Fall
Consumer prices in Switzerland fell 0.5 percent year-on-year in January of 2021, the 12th consecutive month of deflation and compared to forecasts of a 0.6 percent drop. Main downward pressure came from cost of housing and energy (-0.3 percent), healthcare (-0.2 percent), food and non-alcoholic beverages (-0.3 percent) and transport (-1.4 percent). On a monthly basis, prices edged up 0.1 percent, the first increase since March last year, due to several factors including rising prices for hotel accommodation, fuel, second-hand cars. In contrast, prices for air transport and clothing and footwear decreased, the latter due to seasonal sales.
Published on 2021-02-12

Switzerland in Deflation Territory for 11th Month
Consumer prices in Switzerland fell 0.8 percent year-on-year in December of 2020, more than market forecasts of a 0.7 percent drop. It is the 11th consecutive month of deflation, bringing average annual inflation in 2020 to -0.7 percent compared to 0.4 percent in 2019. During the year, prices decreased mainly for international package holidays, petroleum products and air transport. On a monthly basis, consumer prices were down 0.1 percent, compared to forecasts of a flat reading, and weighed down by several factors including falling prices for international package holidays. Medicines also recorded a price decrease, as did fruiting vegetables. In contrast, prices for heating oil and air transport increased.
Published on 2021-01-05

Swiss Deflation Deepens
Consumer prices in Switzerland fell 0.7 percent year-on-year in November of 2020, extending deflation for a 10th month. Figures compare with market forecasts of a 0.5 percent drop. Biggest downward impact came from prices of housing and energy (-0.7 percent); healthcare (-0.6 percent); and transport (-3.2 percent). In contrast, main upward pressure came from cost of food and non-alcoholic beverages (0.4 percent) and restaurants and hotels (0.5 percent). On a monthly basis, consumer prices went down 0.2 percent, mainly due to falling prices for international package holidays. Hotel accommodation also recorded a price decrease, as did fruiting vegetables. In contrast, prices for housing rentals and foreign red wine increased.
Published on 2020-12-02

Switzerland Deflation Extends for 9th Month
Consumer prices in Switzerland fell 0.6 percent year-on-year in October of 2020, extending the deflation for the 9th month but booking the smallest decline since March. Figures came in line with market expectations. Biggest declines were seen in cost of transport (-3.6 percent), recreation and culture (-1.6 percent), healthcare (-0.6 percent) and housing and energy (-0.4 percent). In contrast, main increases were recorded for restaurants and hotels (0.9 percent), food (0.8 percent), alcoholic beverages (0.8 percent) and education (0.8 percent). On a monthly basis, consumer prices were flat, the same as in the previous month. Prices for clothing and footwear increased, as well as those for glasses and contact lenses. In contrast, prices for combined offers for fixed-line and mobile communication, as well as those for other fruits (melons and grapes) decreased.
Published on 2020-11-03

Swiss Consumer Prices Drop the Least in 6 Months
Switzerland's consumer prices declined 0.8 percent from a year earlier in September 2020, the least since March and in line with market expectations. There were decreases in cost for housing & utilities (-0.5 percent vs -0.4 percent in August), health (-0.8 percent, the same pace as in August), transport (-3.7 percent vs -4.2 percent), recreation & culture (-2.4 percent vs -2.9 percent). Meanwhile, prices rose for food & non-alcoholic beverages (0.5 percent vs 0.2 percent), restaurants & hotels (0.3 percent vs 0.5 percent) and clothing & footwear rebounded (0.4 percent vs -0.3 percent). Core consumer prices, which strip out volatile price components like fresh and seasonal products, energy and fuels dropped 0.3 percent, also the least since March. On a monthly basis, consumer prices were flat in September, matching market consensus.
Published on 2020-10-01

Swiss Consumer Prices Drop Less than Expected
Switzerland's consumer prices fell 0.9 percent from a year earlier in August 2020, still the smallest decline since March and compared with market expectations of a 0.8 percent drop. There were decreases in prices of housing & utilities (-0.4 percent vs -0.2 percent in July), health (-0.8 vs -1.0 percent), transport (-4.2 percent vs -4.6 percent), recreation & culture (-2.9 percent vs -3.2 percent), and clothing & footwear (-0.3 percent vs 0.3 percent). Meanwhile, prices increased further for both food & non-alcoholic beverages increased softer (0.2 percent vs 0.7 percent) and restaurants & hotels (0.5 percent vs 0.1 percent). Core consumer prices, which strip out volatile price components like fresh and seasonal products, energy and fuels dropped 0.4 percent, still the least since March. On a monthly basis, consumer prices were flat in August, compared to market consensus of a 0.1 percent rise.
Published on 2020-09-03

Swiss Consumer Prices Fall the Least in 4 Months
Switzerland's consumer prices dropped 0.9 percent from a year earlier in July 2020, the smallest fall since March and compared with market expectations of a 1.1 percent decline. There were decreases in prices of housing & utilities (-0.2 percent vs -0.1 percent in June), health (-1.0 vs -0.7 percent), transport (-4.6 percent vs -6.3 percent), recreation & culture (-3.2 percent vs -4.7 percent). Meanwhile, prices of food & non-alcoholic beverages increased softer (0.7 percent vs 1.0 percent). In addition, prices rebounded for both clothing & footwear (0.3 percent vs -1.0 percent), restaurants & hotels (0.1 percent vs -0.3 percent). Core consumer prices, which strip out volatile price components like fresh and seasonal products, energy and fuels dropped 0.4 percent, the least since March. On a monthly basis, consumer prices went down 0.2 percent in July, compared to market consensus of a 0.4 percent drop.
Published on 2020-08-03

Swiss Consumer Prices Drop the Most Since 2016
Switzerland's consumer prices dropped 1.3 percent from a year earlier in June 2020, the steepest fall since January 2016 and compared with market expectations of a 1.2 percent fall. There were declines in prices of housing & utilities (-0.1 percent vs -0.4 percent in May), health (-0.7 percent, the same as in May), transport (-6.3 percent vs -6.1 percent), recreation & culture (-4.7 percent vs -4.3 percent), clothing & footwear (-1.0 percent vs -0.3 percent), restaurants & hotels (-0.3 percent vs 0.1 percent). Conversely, prices of food & non-alcoholic beverages increased faster (1.0 percent vs 0.4 percent). Core consumer prices, which strip out volatile price components like fresh and seasonal products, energy and fuels dropped 0.8 percent, the most since January 2016. On a monthly basis, consumer prices were flat in June, compared to market consensus of a 0.1 percent gain.
Published on 2020-07-02

Swiss Consumer Prices Fall the Most in 4-1/2 Years
Switzerland's consumer prices declined 1.3 percent from a year earlier in May 2020, the steepest fall since January 2016 and in line with market expectations. There were decreases in prices of housing & utilities (-0.4 percent vs -0.2 percent in April), health (-0.7 percent vs -0.8 percent), transport (-6.1 percent vs -4.8 percent), recreation & culture (-4.3 percent vs -4.5 percent), clothing & footwear (-0.3 percent vs -0.6 percent). Meanwhile, restaurants & hotels inflation was steady at 0.1 percent. Conversely, prices of food & non-alcoholic beverages rose faster (0.4 percent vs 0.3 percent). Core consumer prices, which strip out volatile price components like fresh and seasonal products, energy and fuels dropped 0.6 percent, the most since January 2016. On a monthly basis, consumer prices were flat in May, compared to market consensus of a 0.1 percent gain.
Published on 2020-06-04

Swiss Consumer Prices Fall the Most Since 2016
Switzerland's consumer prices declined 1.1 percent from a year earlier in April 2020, the steepest fall since January 2016 and compared to market expectations of a 0.8 percent drop. There were decreases in prices of housing & utilities (-0.2 percent vs -0.1 percent in March), health (-0.8 percent, the same as in March), transport (-4.8 percent vs -2.1 percent), recreation & culture (-4.5 percent vs -3.2 percent), clothing & footwear (-0.6 percent vs 1.3 percent). In addition, inflation slowed for restaurants & hotels (0.1 percent vs 0.2 percent). By contrast, prices of food & non-alcoholic beverages rebounded (0.3 percent vs -0.3 percent). Core consumer prices, which strip out volatile price components like fresh and seasonal products, energy and fuels went down 0.5 percent, the most since March 2016. On a monthly basis, consumer prices dropped 0.4 percent in April, compared to market consensus of a 0.1 percent fall.
Published on 2020-05-05

Switzerland Consumer Prices Fall for 2nd Month
Switzerland's consumer prices declined 0.5% yoy in March 2020, after a 0.1 percent drop in the previous month, and matching market expectations. It was the second straight month of decline and the steepest fall since March 2016, as prices dropped for housing & utilities (-0.1% vs 0.3% in February); food & non-alcoholic beverages (-0.3% vs -1.3%); transport (-2.1% vs -0.3%); recreation & culture (-3.2% vs -1.1%) and health (-0.8% vs 0.8%). In addition, prices rose less for restaurants & hotels (0.2% vs 0.9%) and clothing & footwear (1.3% vs 2.4%). Annual core consumer prices, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, edged down 0.1%, the first decrease since February 2017, after increasing by 0.2% in February. On a monthly basis, consumer prices inched up 0.1% in March, in line with market consensus.
Published on 2020-04-02

Switzerland Consumer Prices Edge Down 0.1% in February
Switzerland's consumer prices edged down 0.1 percent year-on-year in February 2020, down from a four-month high of a 0.2 percent rise in the previous month, and missing market expectations of a 0.1 percent gain. It was the first decrease in consumer prices since November last year, as prices fell for: transport (-0.3 pct vs 0.1 pct in January); health (-0.8 pct vs -0.8 pct); food & non-alcoholic beverages (-1.3 pct vs -1.0 pct); and recreation & culture (-1.1 pct vs -0.4 pct). In addition, prices rose softer for: housing & utilities (0.3 pct vs 0.7 pct) and restaurants & hotels (0.9 pct vs 1.2 pct), while clothing & footwear inflation was steady (at 2.4 pct). Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, stood at 0.2 percent in February, unchanged from January. On a monthly basis, consumer prices inched higher 0.1 percent in February, below market consensus 0.2 percent gain.
Published on 2020-03-04

Swiss Inflation Rate Holds Steady at 4-Month High
Switzerland's consumer price inflation stood at 0.2 percent year-on-year in January 2020, unchanged from the previous month's four-month high and slightly above market expectations of 0.1 percent. Upward pressure came from: housing & utilities (0.7 percent vs 0.6 percent in December); clothing & footwear (2.4 percent vs 1.3 percent); restaurants & hotels (1.2 percent vs 0.6 percent); transport (0.1 percent vs -0.5 percent). On the other hand, prices fell for health (-0.8 percent vs -0.6 percent); food & non-alcoholic beverages (-1.0 percent vs -0.7 percent); and recreation & culture (-0.4 percent vs 0.1 percent). Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, fell to 0.2 percent in January from 0.4 percent in December. On a monthly basis, consumer prices went down 0.2 percent in January, in line with consensus.
Published on 2020-02-10

Swiss Consumer Prices Rebound in December
Switzerland's consumer prices increased 0.2 percent year-on-year in December 2019, rebounding from a 0.1 percent fall in the previous month and defying market expectations of a flat reading. Housing prices rose, while food and transport deflation eased. Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, held steady at 0.4 percent. Considering 2019 full year, the average inflation slowed to 0.4 percent from 0.9 percent in 2018. There were higher prices for housing rentals and for new cars, while costs for petroleum products and medicines decreased. Prices for domestic products increased by 0.5 percent on average, those for imported products remained stable.
Published on 2020-01-07

Swiss Consumer Prices Fall for 2nd Month
Switzerland's consumer prices inched lower 0.1 percent year-on-year in November 2019, after a 0.3 percent fall in the previous month and in line with market expectations. It was the second straight month of deflation, as food, health and transport prices continued to drop, while housing costs were flat.
Published on 2019-12-03