Swiss Inflation Climbs To 1.5%, Highest Since December 2023
Rising fuel costs and a weaker franc pushed core inflation to 0.5%, reinforcing expectations that Swiss National Bank rates will stay unchanged.
- On Tuesday, the Swiss Federal Statistical Office reported that Swiss consumer price inflation accelerated to 1.5% in October, marking the highest level in nearly three years.
- A continued weakening of the franc over past months has boosted domestic cost increases, while rising prices for heating oil, petrol, and diesel also drove inflation.
- While the reading remains within the Swiss National Bank's 0-2% range, it is noticeably above the 1.2% forecast of policymakers for the fourth quarter, with core inflation steady at 0.5%.
- The Swiss currency jumped on the news, gaining to a five-month high against the euro as markets responded to the inflation acceleration.
- Bloomberg Economics analysts stated the reading remains consistent with the Swiss National Bank's assessment, suggesting policymakers will keep rates unchanged until late 2027.
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14 Articles
In October, inflation in Switzerland rose by 1.5 percent compared to the same month of the previous year. However, economists do not see broad-based inflation – and blame the high energy prices and the Swiss franc for the leap.
Consumer prices rose more than expected in October in Switzerland, driven by rising prices for fuel oil, gasoline and diesel. The energy bill could weigh heavily as winter approaches, points out an expert, while the SNB could harden the tone in terms of interest ratesIn October, the consumer price index (CPI) rose by 0.2% over a month, to 101.7 points, according to figures published on Tuesday by the Federal Statistical Office (OFS). Over a year…
Inflation in Switzerland rose sharply in October, mainly due to the rise in the price of heating oil and fuels. According to data published by the Federal Statistical Office (FSO), annual inflation amounted to 1.5 percent, compared to 1 percent in September.The growth turned out to be higher than the expectations of economists, who, according to a survey by the news agency AWP, predicted an inflation of between 1.1 and 1.4 per cent.This is the m…
Swiss Inflation Climbs To 1.5%, Highest Since December 2023
Switzerland's consumer price inflation accelerated more-than-expected in October to the highest level in nearly three years. The consumer price index climbed 1.5 percent yearly in October, faster than the 1.0 percent increase in September. Inflation based on transportation rose to 5.3 percent from 3.6 percent, and housing and energy costs increased 2.5 percent.
The data of the Swiss Federal Bureau of Statistics, Tuesday, showed that the rate of consumer price inflation in Switzerland accelerated over the past October, registering its highest level in about three years.
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