Friday , September 30 2022
Home / SNB & CHF / Swiss inflation up again in June 2022

Swiss inflation up again in June 2022

Summary:
Photo by Ahmed Muntasir on Pexels.com On 4 July 2022, Switzerland’s Federal Statistical Office (FSO) published June inflation data, which show prices 3.4% higher than one year ago, well above the Swiss National Bank target of 2.0%. Switzerland’s consumer price index (CPI) increased by 0.5% in June 2022, less than the 0.7% rise in May 2022. At the end of May 2022, annual inflation was 2.9%. By the end of June 2022 it was 3.4%, the highest since 1993. Big drivers of rising prices continue to be higher energy prices and shortages of particular foods and raw materials. The biggest price jumps during June 2022 were private hired transport (+62.7%), brassicas (+40.6%) – cabbage brocoli etc – and melons and grapes (+18.5%). Over the 12 months to the end of June 2022 the

Topics:
Investec considers the following as important: , , , , ,

This could be interesting, too:

Jacob G. Hornberger writes The U.S. Destroyed Iranian Democracy

Stephen Flood writes Episode 5 of The M3 Report with Steve St. Angelo

Charles Hugh Smith writes Loonshots and Collapse

Swissinfo writes Credit Suisse forced to address restructuring concerns

Swiss inflation up again in June 2022

Photo by Ahmed Muntasir on Pexels.com

On 4 July 2022, Switzerland’s Federal Statistical Office (FSO) published June inflation data, which show prices 3.4% higher than one year ago, well above the Swiss National Bank target of 2.0%.

Switzerland’s consumer price index (CPI) increased by 0.5% in June 2022, less than the 0.7% rise in May 2022. At the end of May 2022, annual inflation was 2.9%. By the end of June 2022 it was 3.4%, the highest since 1993.

Big drivers of rising prices continue to be higher energy prices and shortages of particular foods and raw materials.

The biggest price jumps during June 2022 were private hired transport (+62.7%), brassicas (+40.6%) – cabbage brocoli etc – and melons and grapes (+18.5%).

Over the 12 months to the end of June 2022 the prices of heating oil (+88.0%), private hired transport (+86.8%), air transport (+73.9%), wood pellets (+46.5%) and gas (+43.5%) rose the most.

A rising Swiss Franc has helped to dampen the inflation associated with some imported goods and services. Over the last 12 months the rate has moved from around 1.09 francs to around 0.99 francs per Euro. At the same time the franc has weakened against the USD from around 0.92 to 0.97 francs to the dollar over the same period, pushing up the price of USD imports.


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 *