by Switzerland’s consumer price index (CPI) remained stable in October 2022 compared with the previous month, reported Switzerland’s Federal Statistical Office (FSO) this week. Photo by Polina Tankilevitch on Pexels.comThis left year-on-year inflation at the end of October 2022 at 3%, the same level that it was at the end of September 2022. The stability of the index compared with the previous month is due to opposing trends that counterbalanced each other overall. Prices for gas, heating oil and mobile communication increased, as well as prices for clothing and footwear. In contrast, prices for combined offers for fixed-line and mobile communication, fuels and new cars decreased. The strong Swiss franc, which has soaked up some of the rising costs of imported goods and services,
Topics:
Investec considers the following as important: Business & Economy, Editor's Choice, Personal finance
This could be interesting, too:
Investec writes Swiss National Bank to issue new money
Investec writes End of lifelong widows’ pensions moves closer to reality
Investec writes Swiss government deficit shrinks further
Investec writes Swiss government wants to invest more in bomb shelters
Switzerland’s consumer price index (CPI) remained stable in October 2022 compared with the previous month, reported Switzerland’s Federal Statistical Office (FSO) this week.
This left year-on-year inflation at the end of October 2022 at 3%, the same level that it was at the end of September 2022.
The stability of the index compared with the previous month is due to opposing trends that counterbalanced each other overall. Prices for gas, heating oil and mobile communication increased, as well as prices for clothing and footwear. In contrast, prices for combined offers for fixed-line and mobile communication, fuels and new cars decreased.
The strong Swiss franc, which has soaked up some of the rising costs of imported goods and services, and relatively modest pay increases have helped to limit inflation in Switzerland compared to much of the rest of the world.
Annual inflation in Switzerland reached a high point of 3.5% in August 2022.
More on this:
FSO press release (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.