Inflation in Switzerland has seen significant increases in October, largely as a result of the price of oil for heating and fuel. According to data published by the Federal Statistics Office ( FSO, annual inflation reached 1.5 percent compared to 1 percent in September.
The increase resulted higher than the expectations of economists, who, according to an AWP news agency poll, predicted an inflation between 1.1 and 1.4 percent.
This is the highest inflation rate in the country since December 2023. During the early 2025, inflation in Switzerland was near zero, while this year’s annual average was 0.2 percent, reports Watson.
However, despite growth, inflation remains within the limits of price stability set by the National Bank of Switzerland ( SNB, which considers a rate to be stable between 0 and 2 percent.
Oil products, 40 percent more expensive
One of the main factors affecting rising inflation was the expensive production of oil products. In October, they cost about 40 percent more compared to the same period last year, transmitsgraphy.
Meanwhile, basic inflation, which excludes energy, fuels, fresh and seasonal products, remained unchanged at 0.5 percent.
National Consumer Prices Index ( ICH) marked growth. By September, it grew by 0.2 percent, reaching 101.7 points.
According to the Federal Statistics Office, this increase was largely affected by higher oil prices for heating, gasoline and oil.
Although inflationary pressures have increased, the current level of inflation remains within the objective of the National Bank of Switzerland’s price stability./Telegraphy/