Swiss inflation quickens


Consumer prices rose 3.3% in January from a year earlier, the Federal Statistics Office sai, as households endured an increase in their electricity bills. — Reuters

ZURICH: Inflation in Switzerland accelerated more than economists forecast, a result that may add to Swiss National Bank (SNB) concerns about cost pressures getting out of control.

Consumer prices rose 3.3% in January from a year earlier, the Federal Statistics Office said yesterday, as households endured an increase in their electricity bills.

That exceeds the previous reading and the 3.1% median forecast in a Bloomberg survey of economists.

The SNB had anticipated the bigger number, with vice-president Martin Schlegel last month projecting that figure.

Core inflation, which strips out volatile elements including energy, accelerated to 2.2% from 2% in December, a second consecutive increase.

While Switzerland has sailed through the global cost-of-living shock with the lowest inflation rate in the Organisation for Economic Co-operation and Development, policymakers are becoming more concerned that it might linger. — Bloomberg

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Switzerland , inflation , SNB , households , powerbills

   

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