Inflation in Switzerland rose slightly in September for the first time in over six months. However, it remains in the moderate range and is within the range of 0 to 2 percent targeted by the Swiss National Bank (SNB).
Inflation rose to 1.7 percent in September from 1.6 percent in August, the Federal Statistical Office (BFS) announced on Tuesday. On average, analysts had expected a slightly stronger increase in the inflation rate to 1.8 percent.
The last time annual inflation rose slightly was in February, but back then it was significantly higher at 3.4 percent. From March onwards, things continued to decline, with the rate falling below the 2 percent mark in June for the first time since January 2022.
Compared to the previous month, consumer prices fell by 0.1 percent in September. According to the statistics office, the decline is due to various factors, including lower prices in the hotel industry. Prices for air transport and package holidays at home and abroad have also fallen. In contrast, the prices for leisure courses, fuel and heating oil have risen, as have those for clothing and shoes. (dpa)