January Inflation Overview

In January, Switzerland experienced a decrease in its annual inflation rate to 0.4%, as reported by the Federal Statistical Office. This marks a reduction from December's 0.6% and aligns with what analysts had forecasted.

Consumer Price Index Changes

The Consumer Price Index (CPI) witnessed a slight monthly drop of 0.1%, settling at 106.8 points. Factors contributing to this decline included lower prices in electricity, supplementary accommodation, air transport, and clothing and footwear sectors.

Price Fluctuations

Despite the overall decrease, certain areas saw price increases, such as hotels, private transportation rentals, and car insurance premiums.

Core Inflation and HICP

Core inflation, excluding fresh and seasonal products, energy, and fuel, decreased by 0.1% month-on-month but showed an annual increase of 0.9%. The Harmonized Index of Consumer Prices (HICP), used for European comparisons, also saw a 0.1% decrease from the previous month, with a 0.2% rise annually.