Swiss Inflation Rate Edges Up to a New 2011 High


Swiss consumer prices increased 0.8 percent year-on-year in November 2017, up from a 0.7 percent rise in the previous month and slightly below market expectations of a 0.9 percent gain. It was the highest inflation rate since March 2011, mostly driven by a rise in prices of transport and clothing and footwear.

Compared with November 2016, consumer prices rose at a faster pace for transport (2.0 percent from 1.7 percent); clothing and footwear (4.3 percent from 4.1 percent); alcoholic beverages and tobacco (0.6 percent from 0.5 percent); restaurants and hotels (0.4 percent from 0.3 percent) and recreation and culture (1.5 percent from 0.6 percent). Also, prices fell less for furnishings (-0.8 percent from -2.1 percent) and communications (-0.8 percent from -1.4 percent), while they increased at the same pace for education (1.3 percent). Meantime, cost slowed for housing and utilities (1.1 percent from 1.3 percent), food and non-alcoholic beverages (0.3 percent from 0.4 percent) and it declined for miscellaneous goods and services (-0.1 percent from 0.1 percent).

Annual core inflation, which strips out volatile price components like food, beverages, tobacco, seasonal products, energy and fuel, came in at 0.6 percent, up from a 0.5 percent in the previous month and the highest since March 2011.

On a monthly basis, consumer prices declined 0.1 percent following a 0.1 percent rise in October and below market expectations of a 0.2 percent gain. Prices fell for food and non-alcoholic beverages (-0.3 percent); clothing and footwear (-0.4 percent); restaurants and hotels (-0.4 percent); miscellaneous goods and services (-0.3 percent) and communications (-0.6 percent). In contrast, inflation went up for transport (0.3 percent); housing and utilities (0.1 percent); alcoholic beverages and tobacco (0.4 percent) and furnishings (1.0 percent). 

Swiss Inflation Rate Edges Up to a New 2011 High


Swiss Federal Statistical Office | Marta Dubiel | marta.dubiel@tradingeconomics.com
12/6/2017 10:18:26 AM