Inflation in Switzerland remains weak. At the start of the year, inflation remained at 0.1 percent, as the Federal Statistical Office announced on Friday. Analysts on average had expected this. On a monthly basis, consumer prices fell by 0.1 percent in January.
The Federal Office calculated consumer prices using a newly composed shopping basket. In this way, the statisticians adapt the index to current consumer habits and market changes.
Inflation for domestic goods is still clearly higher. Here consumer prices were 0.5 percent higher in the reporting month compared to the same month last year. At the same time, annual inflation for imported goods remained significantly negative at 1.5 percent. Core inflation – excluding fresh and seasonal produce, energy and fuel – was 0.5 percent in January.
According to the Federal Office, the monthly price decline is due to various factors. Lower prices for electricity are mentioned. The prices for air transport as well as those for clothing and shoes have also fallen. Meanwhile, the hotel industry and package holidays abroad as well as car insurance became more expensive.
