Project 2

The inflation rate in Switzerland was recorded at -0.40 percent in December of 2012. Historically,from 1956 until 2012, Switzerland Inflation Rate averaged 2.66 Percent reaching an all time high of 11.92 Percent in December of 1973 and a record low of -1.37 Percent in June of 1959. In Switzerland, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods.

 

Swiss index of consumer prices declined 0.3% in November of 2012 compared to the previous month. On an annual basis, inflation was -0.4%. The decline in the index of consumer prices in November 2012 was primarily due to declines in the price of fuel and oil, housing rents and food. Price indices also fell for transports (-1.0%), food and non-alcoholic beverages (-0.8%), communications (-0.5%), housing and energy (-0.4%), clothing and footwear (-0.4%), household equipment and routine maintenance (-0.3%) and hotels and restaurants (-0.1%). However, there was an increase on the price index of alcoholic beverages and tobacco (0.6%), recreation and culture (0.2%) and other goods and services (0.2%). The change in the price index for health was recorded at 0%. the prices of domestic products fell by 0.1% compared to the previous month. Of those, the imported goods fell by 0.9%. On an annual basis, the prices of domestic products rose 0.1%, while those of imported products were down 1.6%. The decline in the index of food and non-alcoholic beverages is largely due to lower prices for vegetables (including cucumbers, courgettes and aubergines), sausages, citrus fruits, powdered soups, pasta, chocolate and cheese. After several decreases in the previous months, it was recorded a price increase for pastries, bakeries and other grain products. The index of communications declined primarily due to lower prices for communications over the mobile network. In housing and energy, the index decline is explained by lower oil prices (-4.1%; reference days: 2 and 15 November) and the Rental Housing (-0.2%). The clothing and footwear group reported a lower index due to promotional offers practiced mainly on women's shoes.