Financial News: Swiss Inflation Rises Slightly To 0.7%

Swiss Inflation Rises Slightly To 0.7%

12/03/2024 - 04:09:00 (RTTNews)

(RTTNews) - Switzerland's consumer price inflation rose marginally in November from a more than three-year low in October, the Federal Statistical Office reported Tuesday.

The consumer price index rose 0.7 percent on a yearly basis in November, following a 0.6 percent rise in the previous month, which was the lowest inflation since June 2021. The expected inflation rate was 0.8 percent.

The annual decline in transport costs eased to 1.7 percent from 2.7 percent, which had an upward effect on inflation. Meanwhile, costs for recreation and culture were 1.2 percent more expensive, and charges at hotels and restaurants rose by 2.3 percent.

On a monthly basis, consumer prices dropped at a stable rate of 0.1 percent in November, as expected. This was the third successive fall in a row.

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