Switzerland February CPI +2.2% vs +1.8% y/y expected

• Prior +1.6%

That's a notable beat in Swiss annual inflation with the core reading also jumping to +1.3% y/y from +0.8% y/y in January. That will keep the SNB on its toes but I doubt we'll see a material change in policy in any case, especially with EUR/CHF under pressure amid the whole Russia-Ukraine situation.