01.12.202112:11:00UTC+00Swiss Inflation Accelerates More Than Expected

Swiss consumer price inflation accelerated more than expected in November, data from the Federal Statistical Office revealed on Wednesday.

Inflation rose to 1.5 percent in November from 1.2 percent in October. This was also bigger than the economists' forecast of 1.4 percent.

On a monthly basis, consumer prices remained flat in November.

Prices for fuel increased from the last month, as well as those for housing rentals and heating oil, data showed. In contrast, prices for hotel accommodation, as well as those for fruiting vegetables decreased.

Inflation surprised on the upside in November, but this was due to temporary factors and it is likely to fall back to below 1.0 percent over the coming months, Michael Tran, an economist at Capital Economics, said.

The upshot is that there is next to no chance of the Swiss National Bank tightening policy anytime soon, and the big question mark is when it might intervene, the economist added.