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- Switzerland's consumer price index fell more than forecast in April
Switzerland's consumer price index fell more than forecast in April
According to the report from Federal Statistical Office, the consumer price index (CPI) fell by 0.4% in April 2020 compared with the previous month, reaching 101.3 points (December 2015 = 100). Inflation was -1.1% compared with the same month of the previous year.
The 0.4% decrease compared with the previous month can be explained by several factors including falling prices for air transport. Hotel accommodation also recorded a price decrease, as did petroleum products. In contrast, prices for vegetables and clothing increased.
In April 2020, the Swiss Harmonised Index of Consumer Prices (HICP) stood at 100.87 points (base 2015 = 100). This corresponds to a rate of change of +0.1% compared with the previous month and of -1.0% compared with the same month the previous year. Due to the effects of the pandemic, the same missing price imputation techniques used for the CPI were introduced for the HICP.
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