Swiss Inflation Rate Climbs to 0.5% in August


Swiss consumer prices increased 0.5 percent year-on-year in August 2017, in line with market consensus and following a 0.3 percent rise in the previous month. It is the highest inflation rate since May, driven by higher prices of housing and utilities and transport.

Compared with August 2016, cost advanced faster for: housing and utilities (1.4 percent vs 1 percent in July); transport (1.5 percent vs 0.4 percent) and recreation and culture (1.4 percent vs 0.9 percent). In contrast, prices fell for food and non-alcoholic beverages (-0.4 percent vs 0.3 percent); health (-0.2 percent vs -0.6 percent) and were flat for restaurants and hotels (from 0.5 percent). 

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, edged up to 0.4 percent from 0.3 percent in July.

On a monthly basis, consumer prices were flat after declining 0.3 percent and matching market expectations. Prices went down for health (-0.2 percent); transport (-0.1 percent);recreation and culture (-0.5 percent); food and non-alcoholic beverages (-0.2 percent); household equipment and maintenance (-0.6 percent) and restaurants and hotels (-0.1 percent).

Swiss Federal Statistical Office |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/5/2017 7:53:05 AM