Switzerland's Inflation Rate Drops to 0.4% in January

According to the Federal Statistical Office of Switzerland, the annual inflation rate in January was recorded at 0.4%. This marks a decrease from December's rate of 0.6%, aligning with analysts' expectations.

The Consumer Price Index (CPI) experienced a monthly decline of 0.1%, settling at 106.8 points. This reduction is largely due to lower prices in several sectors including electricity, supplementary accommodation, air transport, and clothing and footwear. Conversely, there was an increase in prices for hotels, the hire of private means of transportation, and car insurance premiums during the same period.

Core Inflation and HICP Figures

Core inflation, which excludes fresh and seasonal products, energy, and fuel, saw a slight decrease of 0.1% from the previous month but recorded an annual increase of 0.9%. Additionally, the Harmonized Index of Consumer Prices (HICP), utilized for European comparison, showed a 0.1% decrease from the previous month, with a 0.2% annual rise.