Financial News: Swiss Inflation Rises To 1.4%, Highest In 4

Swiss Inflation Rises To 1.4%, Highest In 4 Months

05/02/2024 - 05:21:00 (RTTNews)

(RTTNews) - Switzerland's consumer price inflation increased more-than-expected in April to the highest level in four months, the Federal Statistical Office reported Thursday.

The consumer price index, or CPI, climbed 1.4 percent year-over-year in April, after a 1.0 percent gain in March. Economists had expected inflation to rise slightly to 1.1 percent.

However, inflation remained within the central bank's target range of 0-2 percent.

Prices for food and non-alcoholic beverages grew 1.0 percent annually in April, reversing a 0.4 percent fall in the previous month. Costs for housing and utilities were 3.3 percent higher.

On a monthly basis, consumer prices climbed 0.3 percent after remaining flat in March.

Separate official data showed that retail sales dropped 0.1 percent annually in March, reversing a 0.2 percent gain in the prior month. Sales of both non-food and food products declined 0.6 percent in March from last year.

Monthly, retail sales fell 0.4 percent in March, in contrast to a 0.1 percent increase in February.

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