For January
Release from Swiss Federal Statistics Office

CPI y/y: 2.4% pr. 2.0%

The Swiss economy saw the monthly measure of inflation dip into negative territory (-0.3%) in January. The annual figure however rose above the central bank's 2% target level to measure 2.4%. This annual level is the highest in almost 14 years. It has been caused, as in other places by higher oil prices, and rising food costs. Though it may seem that this would alarm the central bank and perhaps force them to raise rates, a slowdown in the Euro-zone may alleviate inflationary pressure in the medium term.  

For February
Provided by: Credit Suisse

"The Financial Market Test Switzerland, carried out by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW), revealed that economic expectations diminished considerably in February. Hence, the relevant Credit Suisse ZEW indicator declined by 22.8 points to the -55.6 mark. The assessment of the current economic situation deteriorated as well in February, although it still stands at a high level of 72.2 (down 13.3 points compared with the previous month). Inflation expectations for the coming six months decreased noticeably too, with the balance of indicators declining from 54.5 to 26.4 points. At the same time, nearly half of the financial market experts forecast lower oil prices on a six-month horizon. The majority of survey participants (61.1%) still expect short-term interest rates to remain unchanged in the next half-year. However, since more of the experts surveyed in February anticipate lower interest rates and fewer analysts presume interest rates will climb, the corresponding balance of indicators dropped by 49.5 points to the -20.4 level."

For January in Swiss Francs

Exports m/m: 0.2% (16.3 bn Francs)
Imports m/m: 0.4% (15.1 bn Francs)

For January
Media Release from UBS

The UBS Consumption Indicator continues to register high readings, as retail activity and new car registrations pushed the indicator up from its downwardly revised number in December. The Swiss Franc strengthened in the session following the news.

"The slight spurt in the January reading was attributable primarily to the 22.3% year-on-year increase in the number of new passenger car registrations as well as to improved business activity in the retail sector, which reached its highest level in January since July 2001. The ongoing recovery in tourism also had a positive impact on the indicator, as reflected in the additional increase in the number of hotel overnight stays. Somewhat dampened consumer confidence was the only sub-indicator standing in the way of a more pronounced improvement in the overall UBS Consumption Indicator. However, it is noteworthy that despite the prevailing financial market turbulence, the consumer confidence index continues to hover at a very high level – by historical comparison as well as relative to the consumer confidence readings in the USA or neighbouring Europe."