Financial News: Switzerland Inflation Steady At 1.7%

Switzerland Inflation Steady At 1.7%

11/02/2023 - 05:04:00 (RTTNews)

(RTTNews) - Consumer price inflation in Switzerland was unchanged in October, while prices edged up from the previous month, preliminary data from the Federal Statistical Office showed Thursday.

The consumer price index, or CPI, rose 1.7 percent year-on-year, the same as in September. The rate matched economists' expectations. In August, the Swiss inflation was 1.6 percent.

Consumer prices edged up 0.1 percent from the previous month after falling 0.1 percent in September. That was also in line with economists' expectations.

The 0.1 percent monthly increase was due to several factors including higher prices for heating oil and air transport.

Prices of women's coats and jackets and red wine rose, while those in hotels decreased. Prices of fruits and petrol also fell.

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