Swiss inflation rises to 1% in September, driven by energy costs

Switzerland's year-over-year inflation climbed to 1.0% in September, according to data released by the Federal Statistical Office, up from 0.8% the month before. The figure sits in the middle of economists' expectations, which ranged from 0.7% to 1.2% in an AWP poll. The increase was largely driven by higher prices for heating oil, gasoline and diesel, although costs for overseas package holidays, car-sharing and hotel accommodation declined.

Core inflation, which excludes energy and seasonal items, also edged higher to 0.5% from 0.4%. The Swiss National Bank considers inflation stable within its 0-2% target band.