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Inflation falls to 10-month low

The annual rate of inflation in Switzerland fell back to 1.3 per cent in August - its lowest level since last November. The August rate was sharply lower than the previous month when inflation was two per cent.

The federal office for statistics said on Friday the drop was caused by lower transport costs, mainly due to a fall in oil prices, and lower prices for clothing and shoes during the cut-price “sales” period.

The price of oil – a key factor in the inflation rate – is set to rise again but this has not affected the August consumer price index.

In its breakdown of prices, the statistics office noted slightly higher prices for food and rented accommodation

swissinfo with agencies

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR

SWI - a branch of Swiss Broadcasting Corporation SRG SSR