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Financial News: Swiss Inflation Eases Unexpectedly To 1.3%, Lowest In

Swiss Inflation Eases Unexpectedly To 1.3%, Lowest In 27 Months

02/13/2024 - 04:33:00 (RTTNews)

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

The consumer price index, or CPI, climbed 1.3 percent year-over-year in January, slower than the 1.7 percent gain in December. Meanwhile, economists had expected inflation to remain stable at 1.7 percent.

The latest inflation was the weakest since October 2021, when prices had risen 1.2 percent.

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

The annual price growth in housing and energy moderated to 2.5 percent from 3.3 percent in December.

Similarly, prices for food and non-alcoholic beverages grew at a slower rate of 2.3 percent, while transport costs dropped by 0.8 percent.

On a monthly basis, consumer prices edged up 0.2 percent in January after remaining flat in the prior month. That was slower than the expected increase of 0.6 percent.

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