Swiss Inflation Rate Climbs to 0.7% in November

Switzerland's annual inflation rate ticked up to 0.7% in November, according to the latest report from the Federal Statistical Office. This marks a slight increase from October's 0.6% but falls short of analysts' expectations.

On a monthly basis, the consumer price index (CPI) dipped by 0.1% to 106.9 points. This decline was driven by lower prices for hotels, international package holidays, new cars, and fruiting vegetables. In contrast, housing rentals and air transport prices saw increases in November.

Core inflation, which excludes volatile items such as fresh and seasonal products, energy, and fuel, remained steady month-on-month and rose by 0.9% year-on-year. The Harmonized Index of Consumer Prices (HICP) dropped 0.5% compared to the previous month but rose by 0.7% year-on-year.