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- Switzerland's сonsumer prices increased by 0.1% in February
Switzerland's сonsumer prices increased by 0.1% in February
According to the report from Federal Statistical Office, the consumer price index (CPI) increased by 0.1% in February 2020 compared with the previous month, reaching 101.6 points (December 2015 = 100). Economists had expected a 0.2% increase.
Inflation was -0.1% compared with the same month of the previous year. Economists had expected a 0.1% increase.
The 0.1% increase compared with the previous month can be explained by several factors including rising prices for air transport. International package holidays also recorded an increase, as did clothing and footwear due to the end of the seasonal sales. In contrast, prices for heating oil and hotel accommodation decreased.
In February 2020, the Swiss Harmonised Index of Consumer Prices (HICP) stood at 100.70 points (base 2015=100). This corresponds to a rate of change of -0.1% compared with the previous month and of -0.2% compared with the same month the previous year. The HICP is a supplementary indicator for inflation based on a harmonised method across EU member countries. It enables inflation in Switzerland to be compared with that of European countries.
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