Switzerland’s CPI inflation slows to 3-year low

Annual consumer price inflation in Switzerland has eased to 0.8% in September from 1.1% in August, the latest data by the Swiss Federal Statistical Office showed.

The latest CPI figure came below market consensus of 1.1%.

It also pointed to the lowest annual rate since September 2021.

In September, prices were lower for:

– food and non-alcoholic beverages (-0.1% YoY versus -0.3% YoY in August);
– transport (-1.4% YoY versus -1.2% YoY in August);
– household goods and services (-0.7% YoY versus -0.9% YoY in August);
– housing and energy (-0.1% YoY versus +0.5% YoY in August).

The nation’s annual core inflation rate, which excludes volatile categories such as unprocessed food and energy, decelerated to 1% in September from 1.1% in August.

The Swiss Franc was 0.23% weaker on the day against the Euro, with the EUR/CHF currency pair last trading at 0.9404.