For us it's 4%

Only 0.2 percent! Hardly any inflation in Switzerland

In Switzerland, inflation was only 0.2 percent in September. Even experts had expected a little more.(Bild: APA/dpa/Oliver Berg)

The Swiss authorities announced the inflation rate for September on Thursday: It is unchanged compared to September last year at a low 0.2 percent! In Austria, this figure would make you green with envy, because according to a quick estimate by Statistics Austria on Wednesday, September inflation here was a whopping four percent ...

According to the Federal Statistical Office (FSO), the figure is at this level for the third month in a row and is positive again for the fourth month, after being slightly negative for a short time in May. Compared to the previous month of August, however, prices fell slightly on average in September.

Even experts expected a higher figure
September inflation therefore fell just short of expectations, as experts had anticipated a figure of between +0.3 and +0.4 percent.

Inflation for domestic goods is still clearly higher. Here, consumer prices were 0.6% higher in the month under review compared to the same month last year. At the same time, annual inflation for imported goods remained clearly negative at minus 0.9%. Core inflation - excluding fresh and seasonal products, energy and fuel - reached 0.7% in September.

In Switzerland, inflation was only 0.2 percent in September. Even experts had expected a little more.(Bild: APA/dpa/Oliver Berg)

Compared to the previous month, the national consumer price index fell by 0.2% to 107.5 points in the month under review. This decline is attributable to various factors, including lower prices for the hotel industry, package tours abroad and air travel. Rents for private transportation also fell.

(Bild: Krone KREATIV)

By contrast, the prices of knitwear for men and women have risen, as have those for berries, living room and office furniture.

Austria lags miles behind Switzerland
Statistics Austria also announced Austria's September inflation rate on Wednesday. According to the flash estimate, the inflation rate fell only minimally, after 4.1 percent in August. The strongest price driver was once again the service sector with a price increase of 4.7 percent. For some time now, prices in Austria have been rising faster than in the eurozone, for which the ECB is targeting an inflation rate of just under 2.0%.

One reason for the higher inflation this year is the energy subsidies that the federal government cut at the beginning of the year. According to Statistics Austria, energy cost 7.9 percent more in September than a year ago, up from 5.9 percent in August, mainly because fuel no longer had a price-dampening effect.

Inflation higher than in Austria in only a few EU countries
Inflation in September was only higher than in Austria in Slovakia, Croatia and the two Baltic states of Estonia and Latvia. In Germany, the inflation rate was 2.4 percent, in France only 1.1 percent.