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Inflation stable despite consumer price rises

Consumer prices have risen slightly in February, while the rate of inflation remained stable. According to the Federal Office for Statistics, the consumer price index rose 0.4 per cent, while the annual inflation rate remained at 1.6 per cent.

This content was published on February 29, 2000 - 09:55

Consumer prices have risen slightly in February, while the rate of inflation remained stable. According to the Federal Office for Statistics, the consumer price index rose 0.4 per cent to 106.1 points, while the annual inflation rate remained at 1.6 per cent.

The largest price increases were in the food, drink and tobacco sectors, with an increase of nearly one per cent. The office said this was mainly due to a seasonal increase in the price of fresh fruit and vegetables. Rent and energy costs also rose.

On the other hand, clothing prices remained stable, while the cost of transport and communications fell stlightly. The office also said price increases were greater for imports than for domestic production.

The federal statistics office also said the number of people in employment in Switzerland had risen sharply over the past year. It said the figure rose to 3.8 million at the end of 1999, a 1.5 per cent increase over the previous year.

The office said the number of people in work rose particularly fast in the last quarter. It added that, for the first time in over a year, the hotel and restaurant and industrial sectors also contributed to the rise.

From staff and wire reports

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