Further decline: Inflation fell to 1.2 percent

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In particular, inflation fell from 1.3 percent in January to 1.2 percent this month, as the Federal Statistical Office (BFS) announced on Monday. This means: Swiss consumer goods were 1.2 percent more expensive this February than in February 2023.

Economists surveyed by AWP predicted annual inflation would be between 0.9 and 1.2 percent.

Inflation had already fallen to a surprising and sharp 1.3 percent in January. Before that, it had accelerated to 1.7 percent in December.

Inflation in Switzerland peaked at 3.5 percent in the summer of 2022. In June 2023, it fell below 2 percent for the first time since January 2022.

Consumer prices increased by 0.6 percent

On the other hand, the national consumer price index (CPI) increased by 0.6 percent in February compared to the previous month, reaching 107.1 points. According to BFS, this increase is due to several factors, including higher prices for apartment rentals and air transportation.

Non-hotel sector and international package holiday prices also increased. However, it was reported that the prices of facial care products and make-up, as well as blackberries and beef, also decreased.

At current values, inflation in this country is quite moderate, even compared to abroad. In Germany, for example, this rate was still well above 2 percent in February. (SDA/smt)

Source :Blick