Swiss Inflation Rate at 3-Month High of 0.8%

Consumer prices in Switzerland increased 0.8 percent year-on-year in March of 2018, up from a 0.6 percent rise in the prior month and slightly above market expectations of a 0.7 percent gain. It was the highest inflation rate since December.

Year-on-year, prices advanced faster for housing & utilities (1.2 percent vs 1 percent in February) and transport (1.7 percent vs 1.3 percent) while rebounded significantly for food (0.9 percent vs -0.4 percent). Additional upward pressure came from restaurants & hotels (0.8 percent vs 0.5 percent) and miscellaneous goods & services (0.4 percent vs 0.2 percent).

In contrast, cost slowed for clothing & footwear (3.2 percent vs 4.7 percent) while it fell for health (-1.4 percent vs -1 percent), furniture & household equipment (-0.5 percent vs -1.1 percent) and communication (-0.6 percent vs -1.1 percent).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, rose to 0.6 percent in March from 0.5 percent in the previous month. It was the highest rate since December.

On a monthly basis, consumer prices increased 0.4 percent, the same pace as in the preceding month. Main upward pressure came from higher prices for air transportation; package tours abroad and hotel accomodation. In contrast, cost fell for fuel and medicines.

Swiss Inflation Rate at 3-Month High of 0.8%

Swiss Federal Statistical Office | Luisa Carvalho |
4/5/2018 10:05:29 AM