Swiss Inflation Rate Highest Since 2011

The annual inflation rate in Switzerland rose to 1.0 percent in May of 2018 from 0.8 percent in the previous month and above market expectations of 0.9 percent. It was the highest consumer inflation rate since March of 2011, as prices increased faster for housing and energy, tranportation and food while recreation and culture eased and health fell further.

Main upward pressure came from: housing and utilities (1.4 percent compared to 1.3 percent in April); transport (3.6 percent compared to 2.4 percent); food and non-alcoholic beverages (1.6 percent compared to 1.4 percent) and restaurants and hotels (0.2 percent compared to a flat reading). Also, prices of furnishings and household equipment declined at a softer pace (-1.0 percent compared to -1.6 percent). On the other hand, cost dropped further for health (-1.6 percent compared to -1.5 percent) while prices of recreation and culture eased (2.5 percent compared to 2.7 percent) and inflation was steady for miscellaneous goods and services (0.6 percent, the same as in April).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, slowed to 0.4 percent in May from 0.5 percent in April. 

On a monthly basis, consumer prices went up 0.4 percent, after rising 0.2 percent in the prior month. The increase was boosted by higher prices of petrol (4.7 percent) and fresh fruit (49.5 percent). In contrast, prices decreased for medicines (-3.4 percent), other vegetables, aromatic herbs and mushrooms (-7.3 percent) and dried fruit and nuts (-4.4 percent).

Swiss Inflation Rate Highest Since 2011

Swiss Federal Statistical Office | Stefanie Moya |
6/6/2018 7:52:51 AM