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Inflation Difference (HICP) between Eurozone and Switzerland Narrows from 1.4% to 1.1%

 

According to Swiss statistics, the yearly change in the Swiss consumer price index has risen from  -0.1% to 0%. The headline MoM figure fell by 0.4% due to the yearly sell-off in the retail sector.

The difference between euro zone and Switzerland in terms of the European  Harmonized Index of Consumer Prices HICP has narrowed to 1.1%. from 1.4% last month. Swiss inflation measured with HICP has increased to 0.5% y/y. Italian and French HICP are at 1.2%, German HICP at 1.9 (source Eurostat).

Still, in February 2012, Eurozone inflation was 2.9%, but the Swiss was -0.9%, a gap of 3.8%. For the SNB, the only good news was that prices of services fell from 0.7% y/y to 0.4% y/y, while goods of Swiss origin are up 0.3%.

 

Swiss CPI vs. Euro zone July 2013

 Read also:

Switzerland’s Slow Way to Inflation


George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
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