Switzerland's annual inflation rate came in at 0.7 percent in April 2019, unchanged from the previous month and in line with market expectations. Health and housing prices increased at softer pace while transport inflation accelerated.
Health prices, which account for 15 percent of the CPI, rose 0.2 percent in April, the second straight month of annual gain, following a 0.3 percent increase in the previous month. Also, inflation slowed for housing and energy (0.6 percent vs 0.8 percent) while prices fell for both recreation and culture (-0.2 percent vs 0.2 percent) and miscellaneous goods and services (-0.4 percent vs 0.3 percent). On the other hand, prices increased faster for: transportation (1.4 percent vs 1.3 percent); restaurants and hotels (0.9 percent vs 0.5 percent); and food and non-alcoholic beverages (1.2 percent vs 1.0 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 April, the same as in the prior month.
On a monthly basis, consumer prices went up 0.2 percent in April, following a 0.5 percent increase in March and matching market consensus, mainly due to higher prices for fuel and air transport. On the other hand, prices for hotel accommodation, glasses and contact lenses fell.
Swiss Federal Statistical Office | Chusnul Ch Manan | chusnul@tradingeconomics.com
5/3/2019 11:14:08 AM