Swiss inflation unexpectedly slows in September
Reuters
Published Oct 03, 2022 02:35AM ET
ZURICH (Reuters) - Swiss consumer price inflation slowed to 3.3% in September but still surpassed the Swiss National Bank's 0-2% target range for the eighth month in a row.
Economists had expected the year-on-year rate to hold steady at August's 3.5%, a 29-year high.
The index fell 0.2% versus August given falling prices for fuels, heating oil, hotels and supplementary accommodation. Prices for clothing and footwear increased.
Core inflation that strips out volatile items like fuel and food prices was unchanged versus August and rose 2.0% year on year.
The Swiss National Bank is ready to take further steps to fight inflation despite price rises in Switzerland being relatively modest compared to international peers, SNB Chairman Thomas Jordan said last week.
The SNB last month hiked its policy rate to 0.5%, ending a near 8-year era of negative interest rates.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.