Swiss inflation climbed to 0.8% in August, up from 0.4% in July, according to data released Thursday by the Federal Statistical Office (FSO).
The increase marked the highest inflation rate since the start of 2024 and ended several months of steadily declining price growth. The FSO attributed the acceleration primarily to higher energy costs, including increases in petrol, diesel and heating oil prices. Housing rents also contributed to the rise in the consumer price index.
Imported goods prices surged during the month, further amplifying the upward pressure on inflation. The FSO noted that renewed geopolitical tensions in the Middle East had contributed to elevated global energy prices, which fed through to domestic fuel and heating costs.
The August figure follows a period of moderating inflation in Switzerland, where price growth had slowed from earlier peaks in 2023 and early 2024. The latest data suggests a reversal of that trend, though the central bank has not signaled imminent policy adjustments based on a single month’s reading.
