- Consumer prices in Switzerland increased 3.4% in February from a year earlier, due to rising prices for air transport, package holidays, rents and gasoline.
- Core inflation, which strips out elements like energy and food, accelerated for a third month, hitting 2.4%.
- SNB President Thomas Jordan has highlighted that underlying inflationary dynamics are 'stronger than what the SNB is prepared to tolerate.' .
Swiss Inflation Unexpectedly Accelerates on Airfares, Rents
Swiss inflation unexpectedly accelerated last month, jumping to 3.4%, suggesting the central bank will need to continue hiking borrowing costs.