Swiss Inflation Surges to Two-Year High, Beating Economist Forecasts

Switzerland's inflation rate has jumped to its highest level in two years, exceeding every forecast from economists surveyed by Bloomberg. The Consumer Price Index rose 0.8% in August compared to a year earlier, up from 0.4% in July.

The result is higher than the 16 economists' average prediction and will likely influence the Swiss National Bank's interest rate decision later this month.

The inflation reading remains consistent with the central bank's forecast for an average of 0.8% consumer price growth in the current quarter, which it had predicted would peak at 0.8% by early next year.