Switzerland’s annual consumer-price growth accelerated to 0.8% in August 2026 from 0.4% in July, exceeding the 0.5% market expectation and reaching its fastest pace since August 2024, the Swiss data agency FSO said Thursday. The reversal followed several months of cooling inflation and came as renewed tensions in the Middle East pushed global energy costs higher. Higher petroleum costs and the weaker franc also increased prices for imported goods. Core inflation, excluding volatile items such as energy and unprocessed food, rose to 0.4% from 0.3%, its first increase this year. Monthly consumer prices advanced 0.1%, reversing July’s 0.1% decline, as higher petroleum-product costs were partly offset by cheaper clothing and footwear. Inflation remains within the Swiss National Bank’s 0-2% target range ahead of its monetary policy decision later this month. The SNB has indicated it could lower rates below zero if necessary, while officials expect the policy rate to remain at zero through 2027.