Swiss Deflation Deepens to 0.2% in September

Consumer prices in Switzerland went down 0.2 percent year-on-year in September of 2016, following a 0.1 percent drop in the previous month and worse than market expectations of 0.1 percent decline. It is the 25th straight month of deflation. Cost fell more for furnishings, communication and miscellaneous goods and services and rose at a slower pace for food and clothing and footwear. On a monthly basis, prices edged up 0.1 percent.

Year-on-year, prices fell at a faster pace for furnishings (-2 percent from -1.4 percent in August); communication (-1.6 percent from -1.5 percent); and miscellaneous goods and services (-1.7 percent compared to -1.6 percent); alcoholic beverages and tobacco (-0.9 percent) and rose slower for food and non-alcoholic beverages (+0.6 percent compared to +1.3 percent); clothing and footwear (+2.2 percent compared to +3.3 percent) and education (+0.5 percent from +1.4 percent). 

In contrast, housing and energy cost went up 0.1 percent(-0.1 percent in August) and dropped slower for transport (-1.9 percent compared to -2.9 percent).

On a monthly basis, consumer prices also edged up 0.1 percent, following a 0.1 percent decline in August. The increase was mainly due to the end of the sales of summer clothing and higher prices for petroleum products. In contrast, food prices, package tours, hotel nights and plane tickets went down.

Swiss Deflation Deepens to 0.2% in September

Swiss Federal Statistical Office | Yekaterina Guchshina |
10/6/2016 7:43:48 AM