Inflation in Switzerland
Switzerland - Inflation
Inflation remains steady in July
Consumer prices dropped 0.04% from the previous month in July, swinging from the 0.50% rise recorded in June. July's result marked the weakest reading since December 2021. The reading was primarily driven by more moderate rises in prices for housing and energy, transport and food, as well as lower clothing prices.
Inflation was stable at June's 3.4% in July. July's reading represented the joint-highest inflation rate since September 1993. Annual average inflation rose to 2.1% in July (June: 1.8%).
The month-on-month decline is a sign that price pressures are likely peaking, and our panelists expect inflation to decline over the coming quarters amid tighter monetary policy. Moreover, inflation will remain very mild in the broader European context, thanks to the country’s limited reliance on fossil fuels for electricity generation, ingrained low inflation expectations, the franc’s appreciation this year against the euro, and mild wage growth.
FocusEconomics Consensus Forecast panelists expect consumer prices to rise 2.6% on average in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, panelists pencil in average inflation of 1.5%.
Switzerland - Inflation Data
|Inflation Rate (CPI, annual variation in %)||-1.1||-0.4||0.5||0.9||0.4|
5 years of economic forecasts for more than 30 economic indicators.
Switzerland Inflation Chart
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.
|Bond Yield||-0.51||6.27 %||Jan 01|
|Exchange Rate||0.97||-0.54 %||Jan 01|
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August 2, 2022
The Credit Suisse/procure.ch Manufacturing Purchasing Managers' Index (PMI) came in at 58.0 in July, down from June's 59.1.
August 1, 2022
Retail sales increased 1.2% year on year in calendar-adjusted terms in June, which contrasted May's 1.3% decrease.
August 1, 2022
Consumer prices dropped 0.04% from the previous month in July, swinging from the 0.50% rise recorded in June.
July 31, 2022
The KOF Economic Barometer fell to 90.1 in July from June's 95.2.
July 4, 2022
Consumer prices increased 0.50% in June over the previous month, which was below the 0.65% rise logged in May.