Financial News: Swiss Inflation Eases To 1-Year Low, Jobless Rate

Swiss Inflation Eases To 1-Year Low, Jobless Rate Steady At 2.0%

(RTTNews) - Switzerland's consumer price inflation eased more-than-expected in April to the lowest level in a year amid a slowdown in prices for a broad number of categories, the Federal Statistical Office reported Friday.

Separate official data showed that the unemployment rate remained stable at the start of the second quarter.

The consumer price index, or CPI, climbed 2.6 percent year-over-year in April, slower than the 2.9 percent gain in March. Economists had expected inflation to ease slightly to 2.8 percent.

The overall inflation in April was largely driven by a 5.4 percent rise in the prices of food and non-alcoholic beverages, though slower than the 6.3 percent increase in March. The annual price growth in housing and energy eased to 3.7 percent from 4.3 percent.

Costs for clothing and footwear were 3.0 percent higher compared to last year, while those for communication dropped 2.8 percent.

On a monthly basis, consumer prices remained flat in April versus a 0.2 percent rise in the prior month. 

Data showed that core consumer prices rose 2.2 percent yearly and by 0.2 percent monthly in April.

Switzerland's unemployment rate held steady at 2.0 percent in April, the State Secretariat for Economic Affairs, or SECO, said.

In the corresponding month last year, the jobless rate was 2.3 percent.

The number of registered unemployed persons decreased to 90,534 in April from 92,755 in the prior month.

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