Swiss Inflation Rate Rises to 0.3% in July


Swiss consumer prices increased by 0.3 percent year-on-year in July 2017, in line with market consensus and following a 0.2 percent gain in the previous month. Food prices recovered from a fall in the previous month and cost of housing and utilities increased at a faster pace.

Compared with July 2016, cost rose for: Food and non-alcoholic beverages (0.3 percent from -0.6 percent in June); housing and utilities (1 percent from 0.9 percent); transport (0.4 percent from 0.8 percent); recreation and culture (0.9 percent, the same as in June); and restaurants and hotels (0.5 percent from 0.4 percent). By contrast, prices of health continued to fall (-0.6 percent from -0.7 percent in June).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, edged up to 0.3 percent from 0.2 percent in June.

On a monthly basis, consumer prices fell 0.3 percent after declining by 0.1 percent in June and in line with market expectations. Prices fell for clothing and footwear (-8.1 percent) and transport (-0.7 percent), but rose for food and non-alcoholic beverages (1 percent) and recreation and culture (0.4 percent).

Swiss Federal Statistical Office | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/7/2017 8:05:47 AM