Navigation

Inflation reaches a 15-year high

Inflation in Switzerland last month reached its highest level since 1993. At 2.9 per cent, it was markedly higher than the April rate of 2.3 per cent.

This content was published on June 3, 2008 - 11:52

The increase, which exceeded expectations, is largely attributed to high fuel prices.

Heating oil, for example, cost 16 per cent more in May than in April, and consumers are now paying 60 per cent more for this basic product than this time last year.

The notional upper limit for price stability of two per cent inflation, set by the Swiss National Bank, has been breached every month this year.

On June 19 the bank will decide whether to cut interest rates, possibly making a move to cool the economy.

Articles in this story

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

Share this story

Change your password

Do you really want to delete your profile?