Swiss Inflation Rate Rises to 12-Year High on Energy

Swiss inflation unexpectedly accelerated to the fastest pace in more than 12 years in December, led by higher energy costs.

Consumer prices increased 2 percent from a year earlier after rising 1.8 percent in November, the Federal Statistics Office in Neuchatel said today. That’s the highest rate since October 1995. Economists forecast it would be unchanged, according to the median of 14 estimates in a Bloomberg News survey. From the previous month, consumer prices rose 0.2 percent.
“I’m a little bit shocked,” said Janwillem Acket, chief economist at Julius Baer Holding AG in Zurich. “There are risks that we’ll see inflation rates of 2.5 percent in coming months, increasing pressure on the SNB to raise interest rates further.”

Bloomberg