Swiss сonsumer inflation stabilized in December

According to the report from Federal Statistical Office (FSO), the consumer price index (CPI) remained stable in December 2019 compared with the previous month, remaining at 101.7 points (December 2015 = 100). Inflation was +0.2% compared with the same month of the previous year. The average annual inflation reached +0.4% in 2019.

The average annual inflation for 2019 corresponds to the rate of change between the annual average of the CPI for 2019 and that for 2018. The annual average is equal to the arithmetic mean of the 12 monthly indices of the calendar year. The average annual inflation reached +0.4% in 2019. This increase is due in particular to higher prices for housing rentals and for new cars. In contrast, prices for petroleum products and medicines decreased. Prices for domestic products increased by +0.5% on average, those for imported products remained stable. The average annual inflation reached +0.9% in 2018 and +0.5% in 2017.

The stability of the index compared with the previous month is the result of opposing trends that counterbalanced each other overall. Prices for hotels and mobile communication increased. In contrast, prices for products for face care and make-up and those for fruit or vegetables juices decreased.