Swiss Inflation Remains Stable; Jobless Rate Rises

Switzerland's consumer prices increased at a steady rate in August, the Federal Statistical Office reported Thursday.

Separate official data showed that the unemployment rate increased for the first time in seven months in August, though marginally.

The consumer price index rose 0.2 percent annually in August, the same as in July. That was in line with expectations.

Prices for clothing and footwear grew 2.3 percent annually in August, and expenses for housing and energy were 0.6 percent higher. Meanwhile, costs for food and non-alcoholic beverages dropped 0.5 percent, and transport charges were 2.4 percent cheaper.

Excluding food and energy, core inflation eased to 0.7 percent from 0.8 percent a month ago.

Month-on-month, consumer prices edged down 0.1 percent in August versus a flat change in July.

The unadjusted unemployment rate rose to 2.8 percent in August from 2.7 percent in July, the State Secretariat for Economic Affairs, or SECO, said.

The number of registered unemployed individuals increased to 132,105 in August from 129,154 in the prior month. The seasonally adjusted jobless rate held steady at 2.9 percent.

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