Swiss Inflation Rate Steady At Near 6-Year High

Swiss consumer prices increased by 0.6 percent year-on-year in March 2017, the same pace as in the previous month and above market consensus of a 0.5 percent gain. The inflation rate remained at the highest level since June 2011.

Compared with March 2016, cost rose further for recreation and culture (1.7 percent from 0.4 percent in February); while prices increased at a slower pace for transport (2 percent from 2.4 percent); food and non-alcoholic beverages (0.6 percent from 1.8 percent); and housing and utilities (1.3 percent from 1.5 percent). By contrast, prices continued to fall for health (-0.6 percent from -0.7 percent in February) and miscellaneous goods and services (-0.4 percent from -1 percent).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, came in at 0.1 percent, the first positive reading since February 2015.

On a monthly basis, consumer prices went up 0.2 percent after rising by 0.5 percent in January and in line with expectations. Prices rose for recreation and culture (1.7 percent) and clothing and footwear (6.8 percent), but fell for food and non-alcoholic beverages (-1.2 percent), housing and utilities (-0.1 percent) and furnishings and household equipment (-0.7 percent).

Swiss Inflation Rate Steady At Near 6-Year High

Swiss Federal Statistical Office | Joana Ferreira |
4/6/2017 7:46:45 AM