Swiss Inflation Rate at Over 8-Year High

The annual inflation rate in Switzerland rose to 1.1 percent in June of 2018 from 1 percent in the previous month and in line with market expectations. It was the highest consumer inflation rate since May of 2010, as prices increased faster for almost all major groups.

Main upward pressure came from: housing and utilities (1.5 percent compared to 1.4 percent in May); transport (3.9 percent compared to 3.6 percent); food and non-alcoholic beverages (2.1 percent compared to 1.6 percent) and recreation and culture (2.6 percent compared to 2.5 percent). In addition, cost declined at a softer pace for health (-1.5 percent compared to -1.6 percent) and furnishings and household equipment (-0.5 percent compared to -1 percent). Meanwhile, inflation was steady for restaurants and hotels (0.2 percent, the same as in May) and miscellaneous goods and services (0.6 percent).

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

On a monthly basis, consumer prices were flat, after rising 0.4 percent in the prior month. Rises in cost of international package holidays (3.8 percent); fruits and vegetables (18 percent) and fuel (1.6 percent) were offset by falls in prices for clothing and footwear (-2.5 percent) and air transport (-5.5 percent).

Swiss Inflation Rate at Over 8-Year High

Swiss Federal Statistical Office | Gabriela Costa |
7/5/2018 8:24:53 AM