Swiss inflation drops to zero in November
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Swiss inflation drops to zero in November
Annual inflation in Switzerland fell again in November. Compared to the previous month of October, prices fell significantly on average.
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Specifically, annual inflation stood at 0% in November after 0.1% in the previous month, as reported by the Federal Statistical Office (FSO) on Wednesday. This means that the figure is back at the same level as in April, before briefly slipping slightly into negative territory in May.
November inflation was therefore at the lower end of expectations. Experts surveyed by the news agency AWP had previously expected a figure of between 0% and +0.2%.
Inflation for domestic goods is still clearly higher. Here, consumer prices were 0.4% higher in the month under review compared to the same month last year. At the same time, annual inflation for imported goods remained clearly negative at -1.3%. Core inflation – excluding fresh and seasonal products, energy and fuel – was +0.4% in November (October +0.5%).
Compared to the previous month, the national consumer price index (CPI) fell by 0.2% to 107.0 points in the month under review. According to the FSO, this decline is due to various factors. These include lower prices in the hotel industry and for package holidays abroad.
Prices for new cars and fruit and vegetables also fell. On the other hand, prices for residential rents, heating oil and air travel rose.
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OECD expects only moderate Swiss economic growth
Translated from German by DeepL/mga
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