ZURICH, Dec 1 Reuters Swiss consumer price inflation held steady at 3.0 in November but still overshot the Swiss National Bank39;s 02 target range for the 10th month in a row, data showed on Thursday.

Economists had on average expected the yearonyear rate to hold steady at October39;s 3.0, off peaks at midyear that touched a nearly threedecade high.

Prices were unchanged monthonmonth as rent, gas, fuel and red wine prices increased while those for heating oil, vegetables and hotel accommodation fell.

Core inflation that strips out volatile items like fuel and food prices rose 0.1 versus October and 1.9 yearonyear.

Swiss National Bank officials have repeatedly flagged a rate hike at the central bank39;s quarterly policy review announcement on Dec. 15. The SNB has already hiked rates twice this year to fight inflationary pressure.

The inflation data follow news on Tuesday that the Swiss economy grew a real 0.2 in the third quarter versus the second three months of 2022 and slowed to 0.5 yearonyear, lagging market expectations.

Reporting by Michael Shields; Editing by Miranda Murray

Source Reuters