The Magazine for Asian Investors
Swiss government inflation data for May rose to a 14-year high, driven by rising fuel and food prices.
The consumer price index (CPI) rose by 2.9% year-on-year in May. The cost of transportation, food, and beverages skyrocketed in Switzerland, where inflation was historically low.
Inflation was the highest in Switzerland since September 2008 and marked the fourth consecutive month in which inflation was above the Swiss National Bank’s target.