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Macro EconomyMediumUpdated•Originally published 3 November 2026•Updated 3 November 2026•
1 min read

Swiss Inflation Rises to 1.5% in October as Energy Costs Surge

Key Facts

1Swiss headline CPI rose to 1.5% year-on-year in October, exceeding market expectations of 1.3%.
2Core CPI remained unchanged at 0.5% year-on-year, indicating subdued underlying price pressures.

Swiss headline CPI rose to 1.5% year-on-year in October, exceeding market expectations of 1.3%. ActionForex reported that the jump was primarily driven by energy and fuel costs, with petroleum products increasing 6.4% and heating oil prices surging 9.8% on a monthly basis.

Core CPI remained unchanged at 0.5% year-on-year, indicating that broader inflationary pressures remain subdued. This data follows the KOF Leading Indicators which reached 107.6 on October 30, 2026, missing forecasts, while annual Retail Sales grew by 1.6% as of November 2, 2026.

The Swiss Federal Statistical Office is scheduled to release Unemployment Rate data on November 5, 2026, with forecasts at 3.1%, followed by Consumer Confidence figures on November 6, 2026.

Latest Updates · 1

  1. Notable·

    Update: The 1.5% annual inflation rate marks the fastest pace of price growth in Switzerland in over two years. Additionally, the consumer price index rose by 0.2% on a monthly basis in October.

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