Swiss inflation hit 1.5% in October against a 1.3% forecast, with energy costs up 16% and core staying at 0.5%. German real retail sales fell 2.0%. Wednesday's euro-area flash print, expected at 3.9%, tests the case for European Central Bank hikes.
Economist Elly Okinyo notes the jump to a December 2023 high is almost entirely imported oil, with core still 0.5% and well inside the SNB’s 0–2% band versus euro-area inflation near 3.8%. Source
Swiss consumer prices rose 1.5% year-on-year in October, against a 1.3% forecast and 1.0% in September, the Federal Statistical Office (FSO) reported. It is the highest reading since December 2023. The monthly gain was 0.2%, and the Harmonised Index of Consumer Prices (HICP) measure climbed to 1.6% from 1.2%. The FSO pointed to heating oil, petrol and diesel.
