Swiss Consumer Inflation Steady in September

Consumer prices in Switzerland rose by 0.6% year-on-year in May 2026, falling short of market expectations for a 0.8% gain but the same pace as in the previous month. The latest reading remained the fastest rise since December 2024, largely driven by higher costs for housing and energy (at 1.5%) and transport (2% vs 1.2% in April). Prices also increased for education (at 2.6%), restaurant and hotels (1% vs 0.3%), and insurance and financial services (2.1% vs 1.2%). In contrast, costs declined for food and non-alcoholic beverages (-1.2% vs -0.8%), clothing and footwear (-1.2% vs 0.2%), and household goods and services (-1.3% vs -2.2%), while inflation softened for recreation, sport and culture (1.2% vs 2%). Monthly, the CPI went up by 0.2% in May, slightly below forecasts and April’s 0.3% gain. Annual core inflation, which excludes volatile items such as unprocessed food and energy, increased by 0.3%, the same with the prior period’s pace and still the softest rise since July 2021.

Consumer prices in Switzerland increased by 0.6% year-on-year in April 2026, accelerating from a 0.3% rise in the previous month. It is the highest reading since December 2024, mainly driven by higher costs for housing and energy (1.5% vs 1.3% in March), recreation, sport, and culture (2.0% vs 1.1%), and restaurants and hotels (0.3% vs 0.2%), while prices rebounded in clothing and footwear (0.2% vs -0.7%) and transport (1.2% vs -0.8%), and insurance and financial services remained steady at 1.2%. In contrast, prices fell for food and non-alcoholic beverages (-0.8% vs -0.5%), health (-0.2% vs -0.2%), and other goods and services (-0.1% vs 0.8%). On a monthly basis, the CPI rose by 0.3%, below expectations of a 0.4% increase but accelerating from March’s 0.2% gain. Annual core inflation, which excludes volatile items such as unprocessed food and energy, rose 0.3% after increasing 0.4% in March, marking the softest increase since July 2021.

Consumer prices in Switzerland rose by 0.3% year-on-year in March 2026, below market forecasts of a 0.5% increase but accelerating from a 0.1% gain in the previous month. The latest figures marked the highest reading since March 2025, mainly driven by higher costs for housing and energy (1.3% vs 0.7% in February), recreation, sport, and culture (1.1% vs 1.2%), and other goods and services (0.8% vs 0.2%). At the same time, prices declined less for clothing and footwear (-0.7% vs -1.2%) and transport (-0.8% vs -1.8%). On the other hand, costs decreased further for food and non-alcoholic beverages (-0.5% vs -0.3%), while inflation softened for restaurants and hotels (0.2% vs 0.9%). Monthly, the CPI went up by 0.2%, less than the expected 0.5% increase and easing from February's 0.6% gain. Annual core inflation, which excludes volatile items such as unprocessed food and energy, stood at 0.4%, unchanged from the preceding period.