Inflation picks up noticeably in Switzerland

Keystone-SDA

Inflation has risen significantly in Switzerland in the wake of the war in the Middle East. Higher prices for petrol, diesel and heating oil were primarily responsible for this.

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Specifically, annual inflation rose to 0.6% in April from 0.3% in March, the Federal Statistical Office (FSO) said on Tuesday. However, economists had predicted this development. The estimates of the experts surveyed by the news agency AWP assumed an increase in annual inflation in the range of 0.4% to 0.7%.

Compared to the previous month, the national consumer price index (CPI) rose by 0.3% to 101.1 points in the month under review. According to the FSO, higher prices for petrol, diesel and heating oil are among the factors responsible for the rise in inflation. This was particularly evident on the import side. Prices there rose by 1.5% compared to March.

+ Housing, energy costs drive up inflation in Switzerland

Air fares and package holidays also became more expensive. By contrast, prices in the hotel and parahotel industry fell, as did those for car hire and car sharing.

Core inflation – excluding energy and fuel as well as fresh and seasonal products – did not move compared to the previous month.

Adapted from German by AI/ts

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