No increase in October: Inflation remained at 1.7 percent in Switzerland

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According to the statement made by the Federal Statistical Office (BFS) on Thursday, inflation was at 1.7 percent, as in the previous September. This means that Swiss consumer goods were 1.7 percent more expensive in October than in the same month of the previous year. Economists surveyed by AWP had forecast annual inflation in the range of 1.5 to 1.8 percent.

Annual inflation increased slightly in September. The rate, which had been above 3 percent for months before that, had fallen significantly, but in June it fell below 2 percent for the first time since January 2022.

Inflation is high, especially for domestic goods

Inflation in domestic goods remains relatively high. In the reporting month they were still 2.2 percent more expensive than the previous year, while imported goods were only 0.4 percent more expensive. Core inflation, which excludes variable goods such as food, energy and fuel, increased from 1.3 percent to 1.5 percent.

In October, the national consumer price index (CPI) increased by 0.1 percent compared to the previous month, reaching 106.4 points. According to BFS, this is due to several factors, including high prices for heating oil and air transport. Prices of foreign red wine, as well as women’s coats and coats, also increased. However, in addition to fruit and vegetable prices, the hotel sector and gasoline prices also fell. (SDA)

Source :Blick