Swiss inflation holds at 1.5 percent in October

Swiss consumer prices rose 0.2 percent in October from September, leaving annual inflation at 1.5 percent, the Federal Statistical Office said on Tuesday.

Why it matters: At 1.5 percent, Swiss inflation sits in the upper half of the Swiss National Bank's price stability range, high enough that fuel driven monthly gains bear watching but not, on this print alone, a case for tightening.

Data as of Federal Statistical Office press release of November 3, 2026, read in full in this run; consumer price index for October 2026. Primary statistical release; the figures stand on the issuing office's document.

Switzerland’s Consumer Price Index increased by 0.2 percent in October 2026 compared with the previous month, reaching 101.7 points on the December 2025 equals 100 base, the Federal Statistical Office said in Neuchatel on Tuesday. Inflation was 1.5 percent compared with the same month of the previous year.

The monthly increase was led by energy and clothing. Prices rose for heating oil, petrol and diesel, for women’s and men’s footwear, and for outpatient medical services in hospitals, the office said.

Working the other way, prices for medical services at local surgeries and for international package holidays decreased, as did prices for hotels. The composition matters for the read through to policy: the October gain was concentrated in fuel and a seasonal clothing category rather than in domestic services, even as hospital outpatient charges added to the services side.

Swiss inflation holds at 1.5 percent in October

Sources