Swiss Consumer Prices Drop for 24th Straight Month

Swiss consumer prices declined by 0.2 percent in the year to October 2016, the same as in September and worse than market expectations of no change. It was the 24th straight month of deflation, as prices of health and transportation fell further while cost of housing and food rose at a faster pace.

Compared with October 2015, cost of health dropped 0.6 percent, following a 0.5 percent decrease in September, and transport prices dropped 2.4 percent, after declining by 1.9 percent the previous month. Additional downward pressure came from: Miscellaneous goods and services (-1.8 percent); and furnishings and household equipment (-1 percent). By contrast, prices of housing and utilities advanced 0.3 percent, following a 0.1 percent gain in September; and cost of food and non-alcoholic beverages went up 0.8 percent, after rising by 0.6 percent the precedent month.

On a monthly basis, consumer prices edged up 0.1 percent, the same pace as in the previous month, mainly due to higher prices of clothing and footwear (+3.3 percent) and housing and utilities (+0.2 percent); while cost fell for transport (-0.4 percent) and food (-0.3 percent).

Swiss Federal Statistical Office | Joana Ferreira |
11/7/2016 11:19:09 AM