Swiss Inflation Hits 16-Month High

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.

Consumer prices in Switzerland increased by 0.1% year-on-year in February 2026, matching the rate in December and January, defying forecasts of a 0.1% fall. Decreases were seen in prices of food and non-alcoholic beverages (-0.3 vs -0.4% in January), health (-0.2% vs -0.1%), transport (-1.8% vs -2%), information and communication (-0.3% vs 0%), household goods and services (-1.3% vs -1.3%), and clothing and footwear (-1.2% vs -0.9%). Inflation also eased for housing and energy (0.7% vs 0.8%), recreation, sport, and culture (1.2% vs 1.6%), and other goods and services (0.2% vs 0.8%). Meanwhile, costs for restaurant and hotels rebounded (0.9% vs -0.4%), while price growth for alcoholic beverages and tobacco picked up (2.5% vs 1.9%). Monthly, the CPI rose by 0.6%, more than the expected 0.5% increase and rebounding from a 0.1% drop in January. Annual core inflation, which excludes volatile items such as unprocessed food and energy, edged down to 0.4% from 0.5% in the previous two months.