Inflation reaches new high but economists remain optimistic
Switzerland’s inflation rate hit a 44-month high with 1.2 percent in September, but economic experts remained optimistic about the overall performance of the Swiss economy.
Switzerland’s inflation rate hit a 44-month high with 1.2 percent in September, but economic experts remained optimistic about the overall performance of the Swiss economy.
The Federal Statistics Office said Thursday that September saw the inflation rate pass the 1 percent threshold for the first time since January 1996.
The office said the reason for the increase was the import of fuel, which saw price increases of 7.7 percent.
The price levels for domestic goods remained stable, according to the latest data.
Economic experts did not appear to be worried about the latest inflation figure.
A poll among members of the Business Economists’ Consensus organisation showed analysts predicting an average inflation rate of 0.7 for 1999. Next year, they forecast the rate to reach 1.2 percent.
Unemployment was forecast to stand at 2.7 percent at the end of the year.
The poll also made clear that the 22 analysts remained optimistic about continued price stability and they predicted economic growth of 1.98 percent next year.
From staff and wire reports.
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