Swiss Inflation Rises in April

Swiss Inflation Rises in April

Thu, May 2nd 2024

April sees a surprising spike in Swiss inflation, driven by rising costs in travel and domestic goods.

Swiss inflation experienced a notable increase in April, rising sharply to 1.4% from 1.0% in March, as detailed by the Federal Statistical Office (FSO). This uptick indicates that Swiss consumer goods were, on average, 1.4% more expensive than they were a year ago in the same month.

The rise in prices was more pronounced for domestic goods, which saw a 2.0% increase, while imported goods dipped slightly, being 0.4% cheaper compared to April 2023.

This unexpected rise in April’s inflation was somewhat surprising to market analysts. Economists polled by AWP had forecasted a milder increase in the annual inflation rate, estimating it would hover between 1.0% and 1.2%.

The actual figures represent a notable departure from the trends observed over the past three months, during which inflation had significantly decreased—a trend not anticipated by market watchers.

Reflecting back on the year, the inflation rate in December stood at 1.7% before dropping to 1.0% in March. The peak inflation rate hit 3.5% in the summer of 2022 but dropped below 2% in June 2023 for the first time since January 2022, highlighting the volatility of inflationary trends.

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