Swiss Inflation Rate Holds Steady at 6-1/2-Year High

Swiss consumer price inflation stood at 0.7 percent year-on-year in October 2017, unchanged from the the previous month's six-and-a-half-year high and slightly below market consensus of 0.8 percent.

Compared with October 2016, cost rose further for: Food and non-alcoholic beverages (0.4 percent from 0.3 percent in September); transport (1.7 percent from 1 percent); and restaurants and hotels (0.3 percent from 0.1 percent). Meanwhile, prices went up at softer pace for: Housing and utilities (1.3 percent from 1.4 percent); clothing and footwear (4.1 percent from 4.9 percent); and recreation and culture (0.6 percent from 0.8 percent). Prices of health continued to fall (-0.2 percent, the same pace as in September).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, came in at 0.5 percent, also unchanged from the previous month's reading and the highest since March 2011.

On a monthly basis, consumer prices increased by 0.1 percent after rising 0.2 percent in September and below market expectations of 0.2 percent. Prices rose for clothing and footwear (2.5 percent), transport (0.4 percent) and housing and utilities (0.1 percent), but fell for recreation and culture (-0.6 percent) and food and non-alcoholic beverages (-0.2 percent).

Swiss Inflation Rate Holds Steady at 6-1/2-Year High

Swiss Federal Statistical Office | Joana Ferreira |
11/6/2017 8:46:36 AM