Financial News: Swiss Inflation Eases To 1.1%, Lowest In 5

Swiss Inflation Eases To 1.1%, Lowest In 5 Months

09/03/2024 - 03:48:00 (RTTNews)

(RTTNews) - Switzerland's consumer price inflation eased more-than-expected in August to the lowest level in five months, the Federal Statistical Office reported Tuesday.

The consumer price index rose 1.1 percent on a yearly basis in August, slower than the 1.3 percent rise in July. The expected increase was 1.2 percent.

Further, this was the lowest inflation since March, when prices had risen 1.0 percent.

The slowdown in inflation was largely driven by a renewed decline of 0.1 percent in food and non-alcoholic beverages and a 0.7 percent in transport costs.

Clothing and footwear prices were 1.6 percent less expensive. Meanwhile, housing and utilities grew at a stable rate of 3.8 percent.

On a monthly basis, consumer prices showed a null change in August versus a 0.2 percent drop in July. Prices were expected to rise by 0.1 percent.

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