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Financial News: Swiss Inflation Accelerates Further, Highest Since October

Swiss Inflation Accelerates Further, Highest Since October 2008

05/05/2022 - 14:49:00 (RTTNews)

(RTTNews) - Swiss consumer price inflation accelerated further to its highest since October 2008, data from the Federal Statistical Office showed on Wednesday.

Consumer prices rose 2.5 percent year-on-year in April, following a 2.4 percent increase March. This was in line with economists' expectation.

This was the highest since October 2008, when inflation was 2.6 percent.

On a monthly basis, consumer prices rose 0.4 percent in April, after a 0.6 percent growth in the previous month.

Prices for heating oil, new cars and air transport increased in April, data showed. In contrast, prices for hotel accommodation and supplementary accommodation declined.

The core CPI increased 1.5 percent annually in April and rose 0.2 percent from a month ago.

The EU measure of harmonized index of consumer prices, or HICP, rose 0.4 percent monthly in April and grew 2.3 percent from a year ago.

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