
Swiss Inflation Quickens Again In Kickoff To Winter Rebound
The speedup was mainly due to leisure-time courses, fuel and heating oil and clothing and footwear. Underlying inflation, which strips out volatile elements like energy, slowed to 1.3% from 1.5%.
After subsiding over the summer, the Swiss National Bank and most economists expect price pressures to amplify over the coming months, setting up the gauge to touch or even cross SNB's 2% ceiling again.
Although the central bank significantly lifted borrowing costs since last year, higher costs of electricity, rents and public transport, alongside a boost of value-added tax make for the rebound. Power prices alone are set to raise an average 18% in January.
Economists expect inflation to peak at 2% in the fourth quarter, while rate setters see it rising to as much as 2.2% in mid-2024. After surprisingly pausing its rate hikes last month, the SNB could therefore opt for another increase in December.
Still, Swiss consumer-price growth remains the among the lowest of any advanced economy, showcasing how for a key part Switzerland's strong currency has sheltered it from the ravages of inflation elsewhere.
Euro-area data last week showed price growth above 4%, while based on the European Union's harmonized measure, Swiss inflation was 2% in September.
External Content Your subscription could not be saved. Please try again. Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you. Daily newsGet the most important news from Switzerland in your inbox.
Daily
EmailThe SBC Privacy Policy provides additional information on how your data is processed.
I consent to the use of my data for the SWI swissinfo newsletter.

Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- BC.GAME Launches Phase 2 Of Social Mining Campaign, Expanding Ecosystem Engagement With $BC Token
- Ika Reveals Strategic Investment From Sui Foundation, Bringing Total Funding To Over $21M
- Casper 2.0 Goes Live On Mainnet, Positioning Casper Network For The Real-World Asset Era
- Paydify Launches To Enable Businesses Worldwide To Accept Crypto Payments
- BTSE Enterprise Solutions To Kick Off BTSE Broker API Hackathon In Dubai
- B2PRIME Strengthens Institutional Team's Growth With Appointment Of Lee Shmuel Goldfarb, Formerly Of Edgewater Markets
Comments
No comment