by 03.11.2020 – The consumer price index (CPI) remained stable in October 2020 compared with the previous month, remaining at 101.2 points (December 2015 = 100). Inflation was –0.6% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO). The stability of the index compared with the previous month is the result of opposing trends that counterbalanced each other overall. Prices for clothing and footwear increased, as well as those for glasses and contact lenses. In contrast, prices for combined offers for fixed-line and mobile communication, as well as those for other fruits (melons and grapes) decreased. Switzerland Consumer Price Index (CPI) YoY, October 2020(see more posts on Switzerland Consumer Price
Topics:
Swiss Statistics considers the following as important: 2) Swiss and European Macro, 2.) Swiss Statistics - Press Releases, Featured, newsletter
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
| 03.11.2020 – The consumer price index (CPI) remained stable in October 2020 compared with the previous month, remaining at 101.2 points (December 2015 = 100). Inflation was –0.6% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).
The stability of the index compared with the previous month is the result of opposing trends that counterbalanced each other overall. Prices for clothing and footwear increased, as well as those for glasses and contact lenses. In contrast, prices for combined offers for fixed-line and mobile communication, as well as those for other fruits (melons and grapes) decreased. |
Switzerland Consumer Price Index (CPI) YoY, October 2020(see more posts on Switzerland Consumer Price Index, ) Source: investing.com - Click to enlarge |
Quality of results
The current pandemic affects all of society and the entire economy. In this difficult context, the Federal Statistical Office (FSO) must continue to provide public opinion, particularly the country’s decision makers and media, with reliable figures.
In October 2020, it was possible to collect all prices according to the survey plan with the exception of airfares, for which certain prices are still missing. For airfares, the price trend measured for those flights that could be ascertained was applied to missing flights from the same category, neutralising their impact on the results. With the exception of airfares, the quality of the price collection for the LIK in October meets the usual standards.
Harmonised Index of Consumer Prices (HICP)
In October 2020, the Swiss Harmonised Index of Consumer Prices (HICP) stood at 100.45 points (base 2015 = 100). This corresponds to a rate of change of 0.0% compared with the previous month and of –0.9% compared with the same month the previous year. Due to the effects of the pandemic, the same missing price imputation techniques used for the CPI were introduced for the HICP.
The HICP is a supplementary indicator for inflation based on a harmonised method across EU member countries. It enables inflation in Switzerland to be compared with that of European countries.
The European Statistical Office, Eurostat, publishes the results according to a predefined calendar. The FSO publishes a comparison between inflation in Switzerland and Europe on the webpage www.ipch.bfs.admin.ch. A methodological note, the 2020 weighting of the Swiss standard HICP basket and the FSO News publication on the HICP are also available on this page. Eurostat will publish the HICP indices for other European countries for October 2020 on 18 November 2020. You will find the HICP results on the Eurostat website at the following address:
https://ec.europa.eu/eurostat/web/hicp
Download press release: Consumer prices remained stable in October
You Might Also Like
Swiss Consumer Price Index in July 2020: -0.9 percent YoY, -0.2 percent MoM
The consumer price index (CPI) fell by 0.2% in July 2020 compared with the previous month, reaching 101.2 points (December 2015 = 100). Inflation was –0.9% compared with the same month of the previ-ous year.
Swiss labor force survey in the 2nd quarter of 2020: labor supply
The number of employed persons in Switzerland fell by 1.6% (–82 000) between the 2nd quarter 2019 and the 2nd quarter 2020. Furthermore, the actual weekly hours per employed person declined by 9.5%.
Switzerland GDP Q2 2020: -8.2 percent QoQ, -9.3 percent YoY
Switzerland’s GDP fell by –8.2 % in the 2nd quarter of 2020, after decreasing by –2.5 % (revised) in the previous quarter.* Domestic economic activity was severely restricted in the wake of the pandemic and the measures are taken to contain it. The global economy also plunged into a sharp recession. However, Switzerland’s GDP decline remained limited in an international comparison.
Rise of 380 000 jobs in tertiary sector between 2011 and 2018
28.08.2020 – In 2018, almost 70 000 additional jobs were counted in Switzerland, bringing the total to more than 5.2 million. As in the previous years, the tertiary sector, which accounted for some 4 million jobs in 2018, contributed greatly to this increase with a +1.5% rise in employment.
Swiss Retail Sales, July 2020: 3.4 percent Nominal and 4.1 percent Real
Turnover adjusted for sales days and holidays rose in the retail sector by 3.4% in nominal terms in July 2020 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.7% compared with the previous month.
GDP level corrected from 2.8 percent to 3.6 percent between 1995 and 2017 following revision of the national accounts
The results of the national accounts published by the Federal Statistical Office (FSO) have been revised upwards. New data series are available for the period 1995 to 2019. This revision was carried out in collaboration with the sector responsible for quarterly estimates at SECO, provides methodological improvements and takes into consideration new data.
Swiss Retail Sales, August 2020: 1.6 percent Nominal and 2.5 percent Real
Turnover adjusted for sales days and holidays rose in the retail sector by 1.6% in nominal terms in August 2020 compared with the previous year. Seasonally adjusted, nominal turnover fell by 2.1% compared with the previous month.
Forecast: 2020 economic slump less serious than feared
The Expert Group is expecting GDP adjusted for sporting events to fall by 3.8 % in 2020 and unemployment to average 3.2 % over the year as a whole. Prospects for 2020 are therefore less negative than feared in the middle of the year. The momentum is likely to weaken as time goes on.
Download press release
Forecast: 2020 economic slump less serious than feared(PDF, 4 pages, 488 kB)
Other languages
FR
IT
DE
Associated documents
Economic forecasts by the Federal Government’s Expert Group for autumn
Tags: Featured,newsletter