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- Switzerland’s CPI rises slightly more than forecast in August
Switzerland’s CPI rises slightly more than forecast in August
Federal
Statistical Office reported on Thursday the Swiss Consumer Price Index (CPI) rose
0.2 m-o-m in August following a 0.1 percent m-o-m drop in July.
Economists
had forecast a 0.1 percent m-o-m uptick.
According
to the report, the August gain in headline index reflects increased prices in
such groups as clothing and footwear (+1.8 percent m-o-m), alcoholic beverages
and tobacco (+1.8 percent m-o-m), education (+0.7 percent m-o-m), food and
non-alcoholic beverages (+0.5 percent m-o-m), restaurants and hotels (+0.4
percent m-o-m), housing and energy (+0.2 percent m-o-m), transport (+0.2
percent m-o-m), which were partially offset by declines in prices for household
goods and services (-0.1 percent m-o-m), healthcare (-0.1 percent m-o-m) and
recreation and culture (-0.1 percent m-o-m).
In
y-o-y terms, Swiss CPI climbed 0.9 percent in August after a 0.7 percent jump
in July. Economists
had expected an increase of 0.8 percent. This was the highest inflation rate since
November 2018.
Meanwhile,
core CPI rose 0.2 percent m-o-m and 0.4 percent y-o-y.
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