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Swiss Inflation Highest Since October 2008

Swiss consumer price inflation rose to the highest since October 2008, data from the Federal Statistical Office showed on Thursday.

Consumer prices rose 2.4 percent year-on-year in March, following a 2.2 percent increase February, in line with economists’ expectation. This was the highest since October 2008, when inflation was 2.6 percent.

On a monthly basis, consumer prices increased 0.6 percent in March, after a 0.7 percent rise in the previous month.

Prices for heating oil and air transport increased in March, data showed. In contrast, prices for supplementary accommodation and hire of private means of transport declined.

The core CPI increased 1.4 percent annually in March and rose 0.3 percent from a month ago.

The EU measure of harmonized index of consumer prices, or HICP, rose 0.5 percent monthly in March and gained 2.2 percent from a year ago.

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