SNB Chairman Thomas Jordan said,”inflation is far too high. It is negative not only for the functioning of the economy, it is very negative especially for lower income classes.”
“The population doesn’t like inflation, so … the focus on price stability for central banks is absolutely essential.”
Businesses “don’t hesitate any more to increase their prices,” the said. “That is different to two or three years ago, and that is also a signal it is not that easy to bring inflation back to 2%.”
“Once inflation is high, the pressure coming from wages is here and it is proof it will not be that easy everywhere to bring inflation down quickly,” he said.
