Inflation returns in December

Latest reading: Consumer prices were up 0.1% in annual terms in December, following a flat reading in the previous month. Relative to the previous month's data, there were higher price pressures for transportation (-1.4% on a year-on-year basis vs -1.7% in November) and restaurants and hotels (+1.1% vs +0.7% in November). In contrast, there were reduced price pressures for housing and energy (+0.4% vs +0.5% in November) and food and non-alcoholic beverages (-0.8% vs -0.4% in November). Meanwhile, core consumer prices increased 0.5% on a year-on-year basis in December, following a 0.4% rise in the prior month. Finally, consumer prices fell 0.01% in December in month-on-month terms, following a 0.21% decline in the prior month.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Swiss inflation projections for the next ten years from a panel of 38 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Swiss inflation.

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