Inflation Rate Increases to 1.7 Percent in September
Published: Tuesday, Oct 3rd 2023, 07:40
Mise à jour le : Vendredi, 13 octobre 2023, 14:12
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In Switzerland, inflation has risen slightly for the first time in nearly half a year in September. However, it remains within the moderate range or the range targeted by the Swiss National Bank (SNB) of 0 to 2 percent. In September 2023, Swiss consumer goods were 1.7 percent more expensive than in the same month of the previous year, according to the Federal Statistical Office (BFS). This marks an increase from 1.6 percent in August. Economists surveyed by AWP had estimated an annual inflation rate of between 1.7 and 1.9 percent. In February, the annual inflation rate was slightly higher than it is today, at 3.4%. Since March, it has been steadily decreasing, and in June it fell below the 2% mark for the first time since January 2022. Inflation remains relatively high for domestic goods. In the reporting month, they still cost 2.1 percent more than a year ago, while imports were only 0.5 percent more expensive. Core inflation, which excludes volatile goods such as food, energy and fuel, fell to 1.3 from 1.5 percent. In comparison to the previous month, the state index of consumer prices (CPI) decreased by 0.1 percent in September to 106.3 points. According to the Federal Statistical Office (BFS), the decline is due to various factors, including lower prices for hotel and para-hotel services. Prices for air travel and package holidays in Switzerland and abroad have also decreased. In contrast, prices for leisure courses, fuels and heating oil have increased, as have those for clothing and shoes.
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