Financial News: Swiss Inflation Eases Further To 0.6%, Lowest Since

Swiss Inflation Eases Further To 0.6%, Lowest Since June 2021

11/01/2024 - 04:05:00 (RTTNews)

(RTTNews) - Switzerland's consumer price inflation eased unexpectedly in October to the lowest level in more than three years, the Federal Statistical Office reported Friday.

The consumer price index rose 0.6 percent on a yearly basis in October, slower than the 0.8 percent rise in September. Meanwhile, economists had expected the inflation to remain stable at 0.8 percent.

Further, this was the lowest inflation since June 2021, when prices had risen the same 0.6 percent.

Transport costs continued to decline by 2.7 percent from last year, and those of clothing and footwear slid by 1.0 percent.

Prices for household goods and services were 2.0 percent less expensive, and costs for food and non-alcoholic beverages dropped by 0.3 percent.

On a monthly basis, consumer prices edged down 0.1 percent in October after falling 0.3 percent in the previous month. Prices were expected to remain flat.

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