Switzerland Inflation

Inflation eases in July from the prior month

Latest reading: Consumer prices were up 0.4% on a year-on-year basis in July, following a 0.5% rise in the previous month and in line with the Central Bank’s target of below 2.0%. The result was mild compared to neighbors—Euro area inflation clocked around 3% in the same month. Relative to the prior month's data, there were milder price pressures for transportation (+0.8% on a year-on-year basis vs +1.8% in June), food and non-alcoholic beverages (-1.3% vs -1.2% in June) and restaurants and hotels (+0.5% vs +0.7% in June). In contrast, price pressures were higher for housing and energy in July (+1.4% vs +1.2% in June). Meanwhile, core consumer prices increased 0.3% in annual terms in July, unchanged from the prior month's reading. Lastly, consumer prices fell 0.09% in July on a month-on-month basis, following a flat reading in the previous month.

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