Swiss inflation stable in October

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Investec
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Switzerland’s consumer price index (CPI) remained stable in October 2022 compared with the previous month, reported Switzerland’s Federal Statistical Office (FSO) this week.

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This left year-on-year inflation at the end of October 2022 at 3%, the same level that it was at the end of September 2022.

The stability of the index compared with the previous month is due to opposing trends that counterbalanced each other overall. Prices for gas, heating oil and mobile communication increased, as well as prices for clothing and footwear. In contrast, prices for combined offers for fixed-line and mobile communication, fuels and new cars decreased.

The strong Swiss franc, which has soaked up some of the rising costs of imported goods and services, and relatively modest pay increases have helped to limit inflation in Switzerland compared to much of the rest of the world.

Annual inflation in Switzerland reached a high point of 3.5% in August 2022.

About Investec

Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.

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