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Inflation climbs again

Consumer price inflation in Switzerland has reached its highest level in nearly 15 years driven by higher fuel and oil prices.

This content was published on April 4, 2008 - 10:30

The Federal Statistics Office said the annual inflation rate rose to 2.6 per cent in March, up 0.3 per cent on the previous month.

The costs of imported products went up six per cent over 12 months, while prices for domestic goods were 1.4 per cent higher.

The latest figures highlight the Swiss National Bank's policy dilemma whether to raise interests rates, reducing pressure on prices but also weakening the growth outlook.

The central bank has warned inflation could spin out of control if oil prices climbed further. Experts say the ongoing credit crisis and global economic slowdown have worsened the outlook for the Swiss economy.

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