Switzerland Inflation

Inflation slows in June from the prior month

Latest reading: Consumer prices increased 0.5% on a year-on-year basis in June, following a 0.7% rise in the previous month. The result was mild compared to neighbors—Euro area inflation was nearly 3% in June—thanks to Switzerland’s ingrained low inflation expectations, limited reliance on fossil fuels for energy generation and comparatively limited wage growth. Relative to the prior month's data, there were milder price pressures for housing and energy (+1.2% on a year-on-year basis vs +1.5% in May), transportation (+1.8% vs +2.0% in May) and restaurants and hotels (+0.7% vs +1.0% in May). Finally, the change in food and non-alcoholic beverages prices was the same as in the prior month (-1.2% in June and May). Meanwhile, core consumer prices increased 0.3% in annual terms in June, stable from the prior month's reading. Finally, consumer prices flatlined in June in month-on-month terms, following a 0.19% increase in the prior month.

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