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In February, the inflation rate in Switzerland was 3.4 percent and there are still no signs of a trend reversal. But now Coop’s president, Philipp Wyss, 57, is giving consumers hope that the worst may soon be over. “I assume that prices will develop steadily from mid-year,” Wyss said in an interview with “NZZ am Sonntag”.
This means that prices should no longer increase compared to the summer, shopping will no longer become more expensive month to month. However, the Co-operative boss imposes an important restriction: “But of course that still depends on how the franc develops.” If they are weak, import prices go up. So far the situation has been quite the opposite: thanks to the strong franc, inflation in Switzerland is lower than in peripheral European countries.
Migros also sees stability
The co-op boss’s expectations for the price increase have had an impact on the product range: “We’ve already lowered the prices of sixty Prix-Garantie products at the beginning of March,” says Wyss. Also, high inflation abroad means that Swiss retailers are no longer more expensive than their competitors in neighboring countries when it comes to foreign-branded products.
Wyss is not alone in its assessment. The end of inflation is in sight for rival Migros too: at the request of “NZZ am Sonntag”, the retailer writes, “In some cases, prices are falling again with the easing in the energy market.” Migros also assumes that prices will stabilize soon. (co)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
