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Swiss inflation stable in October

Summary:
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

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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.

Swiss inflation stable in October

Photo by Polina Tankilevitch on Pexels.com

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.


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