Swiss CPI Inflation Decelerates In August

Aug 31, 2007 - Consumer prices in Switzerland grew 0.4% on an annual basis, in August, the statistical office said, Friday. Consumer prices advanced 0.7% in the previous month. Economists had predicted a 0.8% annual rise in August. On a monthly basis, consumer prices eased 0.1%, while economists were looking for a 0.2% increase. Prices tumbled a monthly 0.6%, in the last month.

In August, prices in the transport group eased 1.0%, pulled by the 3.6% decline in gasoline prices. Communication prices decreased 0.2%, due to a fall in tariffs of telephone conversations on the fixed network, while housing and energy prices slipped 0.1%. In comparison, prices of food and soft drinks gained 0.1%, while prices of other goods and services edged up 0.1%.

Prices of products of Switzerland remained stable on a monthly basis, while prices of imported products dropped 0.4%.

On an annual basis, prices of gasoline declined 4.4% in August, while prices off diesel remained unchanged. Prices of fuel oil decreased 4.9%, while the level of rents rose 2.1%.

The prices of products of the country grew 0.9% annually in August, while prices of imported products eased 0.7%.