Azernews.Az

by Alimat Aliyeva

Switzerland’s annual inflation rate stood at 0.3% in March, the Federal Statistical Office (FSO) reported on Thursday, while consumer prices rose 0.2% compared with the previous month, AzerNEWS reports, citing foreign media.

On a monthly basis, the increase was largely driven by higher costs for heating oil (up 31.0%), international package holidays (up 5.6%), petrol (up 4.5%), diesel (up 7.3%), and air transport, while car rental and car sharing fell 22.1%, supplementary accommodation dropped 20.9%, and hotel prices also declined.

Year-on-year, heating oil prices rose 21.8%, with notable increases in international package holidays, diesel, and air transport. In contrast, petrol, supplementary accommodation, and hotel costs showed declines.

Core inflation, which excludes fresh and seasonal products, energy, and fuel, remained unchanged month-on-month and stood at 0.4% year-on-year. The Harmonised Index of Consumer Prices (HICP) rose 0.1% monthly and 0.6% annually, according to the FSO.

Interestingly, economists note that Switzerland’s low inflation continues to reflect a combination of stable domestic demand, cautious wage growth, and global energy market fluctuations. This trend suggests that the Swiss economy may maintain relative price stability even as other European nations face higher inflation pressures.