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Swiss Inflation Steady At 0.6%

Switzerland's consumer price inflation was stable in February after slowing slightly at the start of the year, figures from the Federal Statistical Office showed on Tuesday.

The consumer price index rose 0.6 percent year-on-year, same as in January. The latest inflation rate was in line with economists' expectations.

Compared to the previous month, the CPI climbed 0.4 percent year-on-year after declining 0.3 percent in each of the previous three months. The latest increased matched economists' expectations.

The statistical office attributed the monthly increase of 0.4 percent to several factors including rising prices for air transport and for international package holidays, while prices for hotel accommodation and berries decreased.

Core inflation, which excludes fresh and seasonal products, energy and fuel, eased to 0.4 percent in February from 0.5 percent in January. The core CPI rose 0.4 percent, reversing the similar size decline in the previous month.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, rose 0.7 percent year-on-year in February, same as in January. On a monthly basis, the HICP climbed 0.3 percent after a 0.6 percent decline in the previous month.

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