Switzerland: Inflation accelerates in February from January
Latest reading: Consumer prices increased 0.2% on a year-on-year basis in February, following a 0.1% rise in the previous month and above market expectations.
Relative to the prior month’s data, there were higher price pressures for transportation (-1.8% on a year-on-year basis vs -2.0% in January), food and non-alcoholic beverages (-0.3% vs -0.4% in January) and restaurants and hotels (+0.9% vs -0.4% in January). In contrast, price pressures reduced for housing and energy in February (+0.7% vs +0.8% in January).
Meanwhile, core consumer prices were up 0.4% on a year-on-year basis in February, following a 0.5% increase in the prior month.
Finally, consumer prices rose 0.65% in February on a month-on-month basis, following a flat reading in the prior month.