Swiss Inflation Slows To 0.4%, Lowest Since April 2021

(RTTNews) - Switzerland's consumer price inflation eased for the second straight month in January to the lowest level in nearly four years, the Federal Statistical Office reported Thursday.

The consumer price index rose 0.4 percent on a yearly basis in January, as expected, following a 0.6 percent rise in the previous month.

Further, this was the weakest inflation rate since April 2021, when prices had risen 0.3 percent.

The slowdown in inflation was largely driven by the continued fall in costs for food and non-alcoholic beverages, with the deflation deepening to 1.1 percent from 0.9 percent.

Prices for clothing and footwear dropped 0.1 percent, and transport charges were 0.8 percent cheaper compared to last year. The annual price growth in housing and energy eased to 1.6 percent from 3.4, which had also curbed the rise in inflation.

Meanwhile, core inflation that excludes unprocessed food and energy rose to 0.9 percent from 0.7 percent.

On a monthly basis, consumer prices dropped at a stable rate of 0.1 percent in January due to several factors, including lower prices for electricity and supplementary accommodation. This was the fifth successive fall in a row.