Sunday , November 24 2024
Home / SNB & CHF / Swiss inflation jumps sharply in February

Swiss inflation jumps sharply in February

Summary:
© Radomír Režný | Dreamstime.com The high inflation across the world is rippling as far as Switzerland. During the month of February 2022, Swiss prices rose 0.7%. Compared to the same month in 2021, prices were 2.2% higher, making this the highest price increase in two decades. The 0.66% monthly consumer price rise in February ...

Topics:
Investec considers the following as important: , ,

This could be interesting, too:

Eamonn Sheridan writes CHF traders note – Two Swiss National Bank speakers due Thursday, November 21

Charles Hugh Smith writes How Do We Fix the Collapse of Quality?

Marc Chandler writes Sterling and Gilts Pressed Lower by Firmer CPI

Michael Lebowitz writes Trump Tariffs Are Inflationary Claim The Experts

Swiss inflation jumps sharply in February

© Radomír Režný | Dreamstime.com

The high inflation across the world is rippling as far as Switzerland. During the month of February 2022, Swiss prices rose 0.7%. Compared to the same month in 2021, prices were 2.2% higher, making this the highest price increase in two decades.

The 0.66% monthly consumer price rise in February represents an annualised rate of 7.9%. Essentially, if the latest monthly rate of inflation were to continue for 12 months it would push consumer prices up by 7.9%.

The increase in Swiss prices is significant given the downward price pressure a strengthening currency is exerting on the price of imports. Over the month of February 2022, the Swiss franc went from CHF 1.041 per Euro to CHF 1.029 per Euro, a rise of 1.17%. By 4 March 2022, the Swiss franc had almost reached parity with the Euro, the currency of the largest slice of Swiss imports.

The main drivers of inflation in Switzerland during February were transport (+0.23%), housing and energy (+0.15%) and clothing and shoes (+0.08%). These three together accounted for 70% of total monthly inflation.


Tags: ,
About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *