Inflation in Switzerland rose more than expected in April, rising to 1.4% over one year, compared to 1% in March, under the effect of rents among other things, according to reports from the Federal Statistical Office ( OFS) published Thursday. After hitting its lowest level in two and a half years in March, inflation started to rise again in April, with the prices of products manufactured in Switzerland increasing by 2% over one year, the OFS indicates in a press release. The prices of imported products, on the other hand, fell by 0.4%. Housing and energy prices are up 3.3% compared to April 2023, with the increase amounting to 2.8% for rents.
By comparison, the forecasts of economists surveyed by the Swiss agency AWP were between 1% and 1.2% for the month of April. In monthly variation, prices increased by 0.3% compared to the month of March, the consumer price index standing at 107.4 points, under the effect of an increase in the prices of package deals. travel abroad and air transport as well as prices of furniture and gasoline, details the OFS. Since June 2023, inflation in Switzerland has been below the 2% mark targeted by the Swiss National Bank (SNB). It started the year 2024 at 1.3% in January, then at 1.2% in February, which led the SNB to lower its key rate by a quarter of a point in mid-March.
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