Inflation in the 20 countries that use the euro fell to 1.8% in September, below the European Central Bank’s target of 2% for the first time in more than three years.

Swiss inflation has fallen to its lowest level in more than three years, government data showed on Thursday, prompting analysts to say more interest rate cuts by the Swiss National Bank were virtually certain.

Inflation in the 20 European Union countries that use the euro slowed by 0.4% to 1.8% in September as an energy prices plunge that began in August gathered pace, according to official figures published Tuesday.