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Financial News: Swiss Inflation Weakest Since Late 2021

Swiss Inflation Weakest Since Late 2021

03/04/2024 - 03:08:00 (RTTNews)

(RTTNews) - Swiss consumer price inflation weakened to the lowest level in more than two years in February, data published by the Federal Statistical Office showed on Monday.

Consumer price inflation softened to 1.2 percent in February from 1.3 percent in January. A similar lower rate was last reported in October 2021. However, the rate was slightly above economists' forecast of 1.1 percent.

The Swiss National Bank forecast inflation at 1.9 percent this year and 1.6 percent for 2025.

Food and non-alcoholic beverages prices rose 0.8 percent and housing and energy prices advanced 3.1 percent. Meanwhile, transport cost slid 0.5 percent.

On a monthly basis, consumer prices posted an increase of 0.6 percent mainly reflecting rising housing rentals and air transport.

Core consumer prices gained 0.7 percent on month, taking the annual growth to 1.1 percent.

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