Bloomberg News

Swiss Inflation Accelerated More Than Forecast in September

October 06, 2011

Oct. 6 (Bloomberg) -- Swiss inflation accelerated more than economists forecast in September, led by higher costs for clothing and shoes as well as energy.

Consumer prices increased 0.5 percent from a year earlier after rising 0.2 percent in August, the Federal Statistics Office in Neuchatel said in an e-mailed statement today. Economists forecast prices to rise an annual 0.3 percent, the median of 16 estimates in a Bloomberg News survey showed.

The Swiss franc’s 8.4 percent gain versus the euro over the past year and a global slowdown are curbing price pressures, leaving households with more money to spend just as the recovery falters. The Swiss central bank last month introduced a franc cap of 1.20 against the euro to fight deflation threats and President Philipp Hildebrand on Sept. 29 said economic growth will cool in the current half.

Consumer prices rose 0.3 percent from August. Costs of clothing and shoes jumped 8.7 percent from a year earlier, while oil products were 9.8 percent more expensive, today’s report showed. Prices of imported goods rose 0.3 percent.

--Editor: Simone Meier

To contact the reporter on this story: Klaus Wille in Zurich at kwille@bloomberg.net.

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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