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3 October 2022 | Other

Inflation in Switzerland unexpectedly slowed down in September

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Consumer inflation in Switzerland decreased to 3.3% in September. However, this value doesn’t exceed the target range of 0-2% created by the SNB within eight months. 

According to economists' forecasts in August, the annualized figure shouldn’t have fallen below 3.5%. This is the maximum for 29 years. 

However, due to lower fuel and rental prices, the index fell 0.2% compared to August. 

Core inflation for volatile goods didn’t change compared to August and grew by 2% year-on-year. 

Chairman of SNB Thomas Jordan declared that the bank was poised for further actions to decrease inflation even though its growth is small in comparison with other countries.

Last month, the bank raised its interest rate to 0.5%, ending a nearly eight-year period of negative rates.



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