The Swiss inflation rate in October dropped to 0.6% for more than three years, lower than expected.
Swiss Federal Statistics Office data shows that Switzerland's October consumer price index (CPI) inflation rate fell to 0.6%, the lowest level since June 2021, below the market's expected 0.8%, compared to 0.8% in September. Housing and energy inflation slowed to 3.5%, while transportation prices fell by 2.7%. Compared to the previous month, CPI slightly decreased by 0.1%, not rising for the fifth consecutive month, reasons include decreases in hotel prices and international tour package prices. Prices of rbob gasoline, diesel, and fruits and vegetables also decreased.
Express News | Canada's October manufacturing PMI rose to a 20-month high.
Swiss inflation drops to the lowest level in three years, the central bank is determined to cut interest rates in December.
In October, the inflation rate in swiss franc decreased to the lowest level in more than three years, indicating that the Swiss National Bank will further cut interest rates in both this year and 2025.
Canadian Dollar Continues Struggling After GDP Data
Canada's Economy Flatlined in August, Supporting Expectations for Another 50bp Cut From the Bank of Canada
Canadian GDP in August showed zero growth, expected to increase by 0.3% in September.
Statistics Canada data shows that Canada's real Gross Domestic Product (GDP) in August stagnated, consistent with preliminary estimates and market expectations. Driven by finance, insurance, and public administration, the service industry grew slightly by 0.1%, while the commodity production industry declined by 0.4%, reaching the lowest level since December 2021. The statistics agency predicts that Canada's GDP in September may grow by 0.3%, with growth in finance, insurance, construction, and retail trade offset by declines in mining, quarrying, as well as oil & gas extraction.