Swiss consumer prices rose 3.4% in June, more than economists had expected, the first time since July 2008 that inflation exceeded 3%.
This is the fifth month in a row that prices have risen above the central bank’s target for price stability.
Prices rose 0.5% from May as fuel, heating oil and vegetables became more expensive. Prices for red wine and salads fell.
Swiss prices had risen in May to a 14-year high.
The consumer price index rose 2.9% from a year earlier, as transport, food and drink prices became much more expensive in a country known for low inflation.
Ongoing inflationary pressures mean further monetary policy tightening will likely be needed, central bank governor Thomas Jordan said last month after the central bank raised interest rates for the first time in 15 years.
Source: Capital
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