Swiss Inflation Rate at Over 8-Year High

The Swiss consumer price inflation rose to 1.2 percent year-on-year in July 2018 from 1.1 percent in the previous month and in line with market expectations. It was the highest inflation rate since April 2010 mainly boosted by higher transport prices.

Main upward pressure came from: transport (4.1 percent vs 3.9 percent); housing and utilities (1.5 percent, the same as in June); food and non-alcoholic beverages (1.5 percent vs 2.1 percent); restaurants and hotels (0.8 percent vs 0.2 percent); recreation and culture (1.9 percent vs 2.6 percent); and miscellaneous goods and services (0.4 percent vs 0.6 percent). On the other hand, health prices continued to drop (-0.8 percent vs -1.5 percent).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, stood at 0.5 percent in July, unchanged from the previous month's figure. 

On a monthly basis, consumer prices dropped 0.2 percent in July after showing no growth in June and compared to market consensus of a 0.3 percent drop.

Swiss Inflation Rate at Over 8-Year High

Swiss Federal Statistical Office | Joana Ferreira |
8/3/2018 7:47:16 AM