Inflation in Switzerland under control
2022.12.01 02:44
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Inflation in Switzerland under control
Budrigannews.com – According to data released on Thursday, Swiss consumer price inflation remained at 3.0% in November, exceeding the 0-2% range set by the Swiss National Bank for the tenth month in a row.
The year-over-year rate was expected to stay at 3.0% in October, down from mid-year highs that were nearly three decades old.
Prices remained the same month over month, with rent, gasoline, fuel, red wine, and vegetables all rising while hotel rooms fell.
Core inflation, which excludes volatile items like fuel and food prices, increased 1.9% year-over-year and 0.1% in comparison to October.
At the Swiss National Bank’s quarterly policy review announcement on December 15, officials have repeatedly hinted at a rate increase.In an effort to combat rising inflation this year, the SNB has raised rates twice.
The Swiss economy grew by a real 0.2% in the third quarter compared to the second three months of 2022, but it slowed to 0.5% year-over-year, falling short of market expectations, according to news on Tuesday.
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