Inflation: Inflation increased to 1.7 percent in September

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Inflation rose from 1.6 percent in August to 1.7 percent in September 2023, the Federal Statistical Office (BFS) announced on Tuesday. This means that Swiss consumer goods were 1.7 percent more expensive in September than in the same month of the previous year. Economists surveyed by AWP had forecast annual inflation in the range of 1.7 to 1.9 percent.

Annual inflation last increased slightly in February, but at 3.4 percent, it was considerably higher than today. It continued to fall from March, but in June it fell below 2 percent for the first time since January 2022.

Especially local goods are expensive

Inflation in domestic goods remains relatively high. In the month under review, these were still 2.1 percent more expensive than the previous year, while imported goods were only 0.5 percent more expensive. Core inflation, which excludes variable goods such as food, energy and fuel, decreased from 1.5 percent to 1.3 percent.

In September, the national consumer price index (CPI) decreased by 0.1 percent compared to the previous month, falling to 106.3 points. According to BFS, the decline is due to several factors, including lower prices in the hotel and non-hotel sectors. Domestic and international air transportation and package holiday prices also decreased. In contrast, prices for recreational courses, fuel and heating oil, as well as clothing and shoes, also increased. (SDA)

Source :Blick