Switzerland: Inflation picks up in April from the prior month
Latest reading: Consumer prices increased 0.6% in annual terms in April, accelerating from a 0.3% rise in March but coming in below market expectations.
Relative to the prior month’s figures, price pressures strengthened for housing and energy (+1.5% in annual terms vs +1.3% in March), restaurants and hotels (+0.3% vs +0.2%) and transportation (+1.2% vs -0.8%). In contrast, price declines deepened for food and non-alcoholic beverages (-0.8% vs -0.5%).
Meanwhile, core consumer prices increased 0.3% on a year-on-year basis in April, easing from a 0.4% rise in March and marking the softest increase since July 2021.
Lastly, consumer prices rose 0.3% in April on a month-on-month basis, after a 0.2% increase in March.