Switzerland Inflation Rate Hits 3-Month Low

Consumer prices in Switzerland rose by 0.5% year-on-year in June 2026, matching market expectations but slowing slightly from 0.6% in the previous month. It marked the lowest reading since March, as price pressures eased across major categories, particularly housing and energy (1.2% vs 1.5% in May) and transport (1.8% vs 2%), while prices for food and non-alcoholic beverages continued to decline by 1.2%. Inflation also moderated for restaurants and hotels (0.7% vs 1%), while costs were flat for recreation, sport, and culture after rising 1.2%. In contrast, prices rebounded for clothing and footwear (0.1% vs -1.2%) and rose at a faster pace for insurance and financial services (2.3% vs 2.1%). On a monthly basis, consumer prices were flat, compared with market expectations of a 0.1% increase and the prior month's 0.2% rise. Meanwhile, annual core inflation, which strips out volatile items such as unprocessed food and energy, remained unchanged at 0.3% in June.

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.