Switzerland’s annual inflation up in July

By Emir Yildirim

ISTANBUL (AA) – Switzerland’s annual Consumer Price Index (CPI) grew 1.3% in July, in line with market expectations, according to Swiss Federal Statistics Office on Friday.

Prices of food and non-alcoholic beverages climbed 0.1%, housing and energy 3.8%, and transport 0.2% on an annual basis in July, the report showed.

Among principal contributors to inflation, prices of international package holidays rose 4.2% and petrol 3.5%, while air transport fell 0.3% on an annual basis.

On a monthly basis, the Swiss CPI decreased 0.2% in July, as monthly low prices for international holidays and air transport contributed to the decline, while clothing and footwear prices decreased, the report said.

During the same period, prices of food and non-alcoholic beverages climbed 0.9%, while housing and energy prices posted no changes, and transport prices fell 0.8%.

Among items contributing to the change in the index, prices of international package holidays decreased 6.5%, air transport 10.8%, clothing and footwear 6.3%, petrol 0.9% month-on-month.