Swiss Consumer Price Index in September 2020

Consumer prices remained stable in September

The consumer price index (CPI) remained stable in September 2020 compared with the previous month, reaching 101.2 points (December 2015 = 100). Inflation was –0.8 % compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).

The stability of the index compared with the previous month is the result of opposing trends that counterbalanced each other overall. Prices for international package holidays decreased, as well as prices for hotel accommodation and airfares. In contrast, prices for clothing, footwear, and those for other fruits (grapes and melons) increased.

Quality of results

The current pandemic affects all of society and the entire economy. In this difficult context, the Fed- eral Statistical Office (FSO) must continue to provide public opinion, particularly the country’s deci- sion makers and media, with reliable figures.

In September 2020, it was possible to collect all prices according to the survey plan with the exception of airfares, for which certain prices are still missing, and sporting events. For airfares, the price trend measured for those flights that could be ascertained was applied to missing flights from the same category, neutralising their impact on the results. As the majority of prices for sporting events are not available, the prices for the previous period are carried over and the collection of new prices postponed until October. With the exception of airfares and sporting events, the quality of the price collection for the LIK in September meets the usual standards.

Harmonised Index of Consumer Prices (HICP)

In September 2020, the Swiss Harmonised Index of Consumer Prices (HICP) stood at 100.44 points (base 2015 = 100). This corresponds to a rate of change of –0.1 % compared with the previous month and of –1.1 % compared with the same month the previous year. Due to the effects of the pandemic, the same missing price imputation techniques used for the CPI were introduced for the HICP.

The HICP is a supplementary indicator for inflation based on a harmonised method across EU member countries. It enables inflation in Switzerland to be compared with that of European countries.

The European Statistical Office, Eurostat, publishes the results according to a predefined calendar. The FSO publishes a comparison between inflation in Switzerland and Europe on the webpage http://www.ipch.bfs.admin.ch. A methodological note, the 2020 weighting of the Swiss standard HICP basket and the FSO News publication on the HICP are also available on this page. Eurostat will publish the HICP indices for other European countries for September 2020 on 16 October 2020. You will find the HICP results on the Eurostat website at the following address: https://ec.europa.eu/eurostat/web/hicp

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