Swiss Inflation Hits 1.5% on Fuel Surge

Swiss inflation rose more than expected in October, with annual consumer price growth accelerating to 1.5% from 1.0% and monthly prices increasing 0.2%. The rise was driven overwhelmingly by energy and fuel costs, particularly heating oil, gasoline and diesel, while prices excluding petroleum products were unchanged on the month. Core inflation remained subdued at 0.5% year over year, and domestic prices showed little acceleration, suggesting the increase has not yet spread broadly through the economy. The figures may leave the Swiss National Bank watchful if elevated energy costs persist or pass through to other prices, but they do not yet indicate a broad-based inflation surge.