Switzerland's consumer price inflation eased unexpectedly in January to the lowest level in more than two years, the Federal Statistical Office reported Tuesday.
The consumer price index, or CPI, climbed 1.3 percent year-over-year in January, slower than the 1.7 percent gain in December. Meanwhile, economists had expected inflation to remain stable at 1.7 percent.
The latest inflation was the weakest since October 2021, when prices had risen 1.2 percent.
Further, inflation remained within the central bank's target range of 0-2 percent.
The annual price growth in housing and energy moderated to 2.5 percent from 3.3 percent in December.
Similarly, prices for food and non-alcoholic beverages grew at a slower rate of 2.3 percent, while transport costs dropped by 0.8 percent.
On a monthly basis, consumer prices edged up 0.2 percent in January after remaining flat in the prior month. That was slower than the expected increase of 0.6 percent.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
