The Federal Statistical Office reported an unexpected decline in Switzerland's consumer price inflation for October, reaching its lowest point in over three years.
The consumer price index increased by 0.6 percent year-over-year in October, a slowdown from the 0.8 percent rise seen in September. Economists had anticipated inflation to hold steady at 0.8 percent.
This marks the lowest inflation level since June 2021, when the rate similarly stood at 0.6 percent.
Transport costs saw a 2.7 percent decrease compared to the previous year, while clothing and footwear prices fell by 1.0 percent. The prices for household goods and services decreased by 2.0 percent, and food and non-alcoholic beverages experienced a 0.3 percent drop.
Monthly, consumer prices decreased by 0.1 percent in October, following a 0.3 percent decline in September. Analysts had projected that prices would remain unchanged.
