Swiss Annual Inflation Rate Rises to 1.1% in October

The annual inflation rate in Switzerland rose to 1.1 percent in October of 2018 from 1.0 percent in the previous month and in line with market expectations. Prices increased faster mainly due to cost of food and non-alcoholic beverages and housing and energy.

Year-on-year, prices advanced further for food and non-alcoholic beverages (1.7 percent compared to 1.5 percent in September); housing and electricity (1.6 percent compared to 1.3 percent); transport (3.4 percent compared to 3.1 percent); recreation and culture (1.6 percent compared to 1.4 percent) and alcoholic beverages and tobacco (1.7 percent compared to 0.7 percent). Also, cost of household equipment and maintenance rebounded (0.4 percent compared to -0.1 percent). 

On the other hand, prices eased for restaurant and hotels (0.7 percent compared to 0.8 percent); miscellaneous goods and services (0.1 percent compared to 0.3 percent) and communication (0.4 percent compared to 0.7 percent). Additonally, cost dropped for clothing and footwear (-0.4 percent compared to 0.1 percent) while inflation was steady for education (0.6 percent, the same as in September) and cost of health continued to decrease (-0.7 percent, the same as in September).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, was unchanged at 0.4 percent in October, the same as in the prior month.

On a monthly basis, consumer prices increased 0.2 percent, after rising 0.1 percent in September. Cost of heating ouil and new cars went up faster while international package holidays and overnight stays in hotels declined.

Swiss Annual Inflation Rate Rises to 1.1% in October

Swiss Federal Statistical Office | Stefanie Moya |
11/1/2018 8:34:10 AM