Switzerland Inflation Rate

The annual inflation rate in Switzerland slowed to 1% in March 2024, down from 1.2% in the previous month, and coming less than market expectations of 1.3%. It was the lowest reading since September 2021, mainly due to a decline in prices for food and non-alcoholic beverages (-0.4% vs 0.8% in February), and the ongoing deflation for healthcare (-0.5% vs -0.4%), and transport (unchanged at -0.5%). In contrast, inflation edged up for housing and utilities (3.2% vs 3.1%), recreation and culture (1.8% vs 1.7%), and other goods and services (1.1% vs 1%). On a monthly basis, the CPI was unchanged, following a 0.6% rise in February and missing market forecasts of a 0.3% increase. Meanwhile, the core rate, which excludes volatile items such as unprocessed food and energy, ticked lower to 1% from a prior 1.1%.

The annual inflation rate in Switzerland edged down to 1.2% in February 2024 from 1.3% in the prior month, and compared to forecasts of 1.1%. Still, it was the lowest reading since October 2021, mainly due to a slowdown in prices of food & non-alcoholic beverages (0.8% vs 2.3% in January). Slower price increases were also observed in restaurants & hotels (2.1% vs 2.3%), recreation & culture (1.7% vs 1.9%), other goods & services (1% vs 1.6%), and alcoholic beverages & tobacco (0.6% vs 0.9%). Moreover, costs declined for transport (-0.5% vs -0.8%), healthcare (-0.4% vs -0.3%), and household goods & services (-0.9% vs -0.1%). Conversely, inflation picked up for housing & energy (3.1% vs 2.5%) and clothing & footwear (0.3% vs 0.2%), while remained steady for education (at 1.8%). On a monthly basis, the CPI rose 0.6% in February, following a 0.2% advance in January. The core rate, which excludes volatile items such as unprocessed food and energy, fell slightly to 1.1% from a prior 1.2%.

The annual inflation rate in Switzerland eased to 1.3% in January 2024 from 1.7% in the previous month, and coming less than market forecasts of 1.7%. It marked the lowest reading since October 2021, as inflation for housing and utilities slowed to 2.5% from 3.3% in December, while those for food and non-alcoholic beverages eased to 2.3% compared to 3.3%. Additional downward pressures came from the slowdown in prices for restaurants and hotels (2.3% vs 2.8%), and the decreases in costs for transport (-0.8% vs -0.4%), household goods and services (-0.1% vs 0.5%), and health care (unchanged at -0.3%). On a monthly basis, the CPI grew 0.2%, well below market expectations of a 0.6% jump and after stagnating in December. Meanwhile, the core rate, which excludes volatiles items such as unprocessed food and energy, moderated to 1.2% from a prior 1.5%.