Swiss September Headline Inflation Rises to 1.0% Matching Forecasts as Core Remains Subdued

Switzerland's headline inflation reached 1.0% year-over-year in September, accelerating from 0.8% in August and matching market expectations. Consumer prices remained flat month-over-month at 0.0%, while core inflation ticked up slightly to 0.5% year-over-year from 0.4%. Headline price gains were driven by imported products, which rose 2.1% annually, alongside an 11.7% surge in energy and fuel costs. Conversely, domestic product prices declined 0.2% on the month, rising 0.7% annually. Inflation remains within the Swiss National Bank's 0% to 2% target range, maintaining a neutral backdrop as its policy rate sits at 0.0%.