Switzerland: Inflation rises 3.4% annually in February, five tenths above expectations

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He Swiss Consumer Price Index (CPI) has risen one tenth in the interannual reading for February, standing at the 3.4% compared to 3.3% in January, its highest level in six months. The result disappoints the expectations of the market, which expected a decline to 2.9%.

The monthly inflation has grown by 0.7%above the previous 0.6%, although not reaching the 0.8% estimated by the consensus.

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According to the Swiss Statistics Office, the 0.7% increase compared to the previous month is due to several factors including rising prices for air travel, package tours, and complementary accommodation. Home rentals also registered a price increase, as did gasoline. On the contrary, the prices of diesel, as well as those of new cars.

Source: Fx Street

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