Swiss Inflation Surges to 0.8%, Driven by Energy and Imported Goods

Switzerland's inflation rate jumped more than expected in August, rising to 0.8% year-over-year from 0.4%, according to data released by Action Forex.

The surprise increase was driven largely by energy and imported goods prices, which rose 1.5% year-over-year and 9.2% year-over-year respectively.

Petroleum products were the biggest contributors, with prices surging 25.2% year-over-year, led by heating oil, diesel, and petrol, which all recorded sharp increases of 53.1%, 23.3%, and 15.8% respectively.