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Now that doesn’t happen often.

Switzerland’s inflation rate was unexpectedly strong in March, holding steady despite slowing energy price rises causing pullbacks across most of Europe.

Consumer prices were 0.6 per cent higher than a year ago, the same annual inflation rate as the previous month. Economists had expected the figure to slip to 0.5 per cent.

Petrol and vegetable prices were lower in March, but higher prices for package holidays, air transport and clothing caused an overall monthly price rise of 0.2 per cent.

Copyright The Financial Times Limited 2018. All rights reserved.

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