Inflation shows sharp increase

Inflation took a hike in May

The annual rate of inflation increased to 1.8 per cent in May, 0.6 per cent above April's figure and the highest yearly rate for six months.

This content was published on May 31, 2001 - 10:51

Data released by the Federal Statistics Office on Thursday showed that higher petrol prices and seasonal increases for items such as clothing and shoes were the main reasons for the rise.

The core inflation rate which strips out energy, fuel, tobacco, food and seasonal products was also up 0.5 per cent.

Markets were eagerly awaiting the figures for clues on whether the Swiss National Bank might further loosen monetary policy amid mounting evidence that economic growth is slowing down.

swissinfo with agencies

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