The consumer price index in Switzerland moved at an annual rate of 1.6% in January, reaching the highest level since 2008, while approaching the upper limit of 2% set by the country’s central bank.
In particular, according to Reuters, on a monthly basis the index strengthened by 0.2% mainly on the basis of increases in gas prices, hotel accommodation and used cars, which offset the fall in clothing prices, public transport and seasonal sales.
The chairman of the Swiss Federal Reserve (SNB), Thomas Jordan, said last month that global authorities should take inflation seriously, but that his country is close to the peak of inflationary pressures.
For his part, Capital Economics analyst Michael Trann noted that “inflation was higher than expected in Switzerland in January, but moved far from the levels observed in the eurozone, while still agreeing with the SNB ‘s price stability objectives “.
He added that “in any case, January was probably the peak and we believe that the inflation rate will fall below 1% in the coming months.”
Source: Capital
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