Swiss Inflation Rate Highest Since Early 2011


Swiss consumer prices increased by 0.7 percent year-on-year in September 2017, following a 0.5 percent gain in the previous month and beating market consensus of 0.6 percent. It was the highest inflation rate since March 2011, mainly due to rising prices of food and clothing.

Compared with September 2016, cost rose for: Food and non-alcoholic beverages (0.3 percent from -0.4 percent in August); clothing and footwear (4.9 percent from 1.7 percent); housing and utilities (1.4 percent, the same as in August); transport (1 percent from 1.5 percent); recreation and culture (0.8 percent from 1.4 percent); and restaurants and hotels (0.1 percent after a flat reading in August). By contrast, prices of health continued to fall (-0.2 percent, the same as in August).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, rose to 0.5 percent, also the highest since March 2011, from 0.4 percent in August.

On a monthly basis, consumer prices increased by 0.2 percent after after showing no growth in August and in line with market expectations. Prices rose for clothing and footwear (7.4 percent), furnishings and household equipment (0.9 percent) and housing and utilities (0.1 percent), but rose for recreation and culture (-0.7 percent) and transport (-0.1 percent).

Swiss Federal Statistical Office | Joana Ferreira | joana.ferreira@tradingeconomics.com
10/5/2017 7:49:11 AM