Thursday , October 6 2022
Home / le News / Swiss inflation remains stable in July 2022

Swiss inflation remains stable in July 2022

Summary:
Figures published by Switzerland’s Federal Statistical Office (FSO) on 3 August 2022 show annual inflation running at 3.4% in July, the same rate as June. Photo by Anna Shvets on Pexels.comSwitzerland’s consumer price index (CPI) remained stable in July 2022 compared with the previous month, and 3.4% higher compared with the same month of the previous year, said FSO. Over the month, falling prices of clothing and footwear, household appliances, oil products and alcoholic drinks were offset by the rising cost of fresh produce and energy in general. So far Switzerland has been spared the high inflation experienced in nations like the US and the UK. On 4 August 2022, the Bank of England (BOE) announced a forecast of 13% inflation across the UK in 2022. In response the BOE raised

Topics:
Investec considers the following as important: ,

This could be interesting, too:

Investec writes Swiss government decides to review plan to axe imputed rent

Investec writes Switzerland to destroy 10 million doses of Covid vaccine

Investec writes Swiss health insurance set to rise by most since 2010

Investec writes Marked economic slowdown on horizon in Switzerland

Figures published by Switzerland’s Federal Statistical Office (FSO) on 3 August 2022 show annual inflation running at 3.4% in July, the same rate as June.

Swiss inflation remains stable in July 2022
Photo by Anna Shvets on Pexels.com

Switzerland’s consumer price index (CPI) remained stable in July 2022 compared with the previous month, and 3.4% higher compared with the same month of the previous year, said FSO.

Over the month, falling prices of clothing and footwear, household appliances, oil products and alcoholic drinks were offset by the rising cost of fresh produce and energy in general.

So far Switzerland has been spared the high inflation experienced in nations like the US and the UK. On 4 August 2022, the Bank of England (BOE) announced a forecast of 13% inflation across the UK in 2022. In response the BOE raised the bank interest rate by 0.5% to 1.75%, a rate that is low by historical standards. The average BOE interest rate between 1971 and 2022 is 7.15%.

A rising Swiss franc has helped to keep inflation low in Switzerland. On 4 August 2022, one Swiss franc was worth 1.02 Euros.

More on this:
FSO data (in French) – Take a 5 minute French test now

For more stories like this on Switzerland follow us on Facebook and Twitter.

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 *