Inflation edges higher

Higher vegetable prices contribute to increase in inflation in April Keystone

Inflationary pressures edged higher over April as heating oil, petrol and vegetable prices pushed the consumer price index higher, the Swiss Federal Statistics Office said on Wednesday.

Inflation in the year to April edged up to 1.2 per cent, increasing from 1.0 per cent in March. Over the month of April inflationary pressure in the Swiss economy rose 0.3 per cent, after increasing 0.2 per cent in the month to March.

These latest figures remain in line with market expectations that the consumer price index would rise between 1.0 and 1.2 per cent year-on-year in 2001.

The increase in the countrywide index in April 2001 was due to higher readings “in all the consumer goods groups calculated in the reporting month, whereby price increases for heating oil, petrol and vegetables were most pronounced,” the Federal Statistics Office said.

It said prices of domestic goods rose by 0.1 per cent in April versus March, while imported goods’ prices rose by 0.7 per cent. On an annualised basis, domestic goods’ prices rose by 1.6 per cent while the price of imported goods fell by 0.2 per cent.

swissinfo with agencies