Swiss Consumer Prices Rise In December

Switzerland's consumer prices rose for the first time in three months in December, data from the Federal Statistical Office showed on Tuesday.

The consumer price index edged up 0.2 percent year-on-year in December, after a 0.1 percent fall in November. Economists had expected prices to remain unchanged.

On a monthly basis, consumer prices remained unchanged in December after falling in the previous three months. Economists had expected a 0.1 percent fall.

The CPI remained unchanged from the previous month as opposing trends in prices counterbalanced each other overall, the agency said.

An increase in prices for hotels and mobile communication were offset by decreases in prices for products for face care and make-up, and those for fruit or vegetables juices.

The core inflation was 0.4 percent in December and the core CPI remained unchanged from the previous month.

The EU measure of harmonized index of consumer prices rose 0.2 percent monthly in December and fell 0.1 percent from the previous year.

The annual average inflation more than halved to 0.4 percent in 2019 from 0.9 percent in the previous year. In 2017, price growth was 0.5 percent.

The statistical office attributed the inflation mainly to higher prices for housing rentals and for new cars, while prices for petroleum products and medicines decreased.



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