Swiss Inflation Accelerates to 1.0%, Core Inflation Remains Subdued

The Swiss Consumer Price Index (CPI) rose to 1.0% year-over-year in September, matching market expectations.

This increase was largely driven by energy and imported goods prices, which jumped 2.3% month-over-month and 11.7% year-over-year respectively.

Petroleum products led the charge, surging 4.8% month-over-month and 31.2% year-over-year, with heating oil up 8.2%, diesel 4.4%, and petrol 3.3% on the month.

However, core inflation remained subdued at 0.5% year-over-year, while domestic prices fell 0.2% month-over-month and rose only 0.7% year-over-year.