Data published by the Federal Statistical Office (FSO) showed that in June consumer prices rose by 1.3% per year after an increase of 1.4% (the highest value since December 2023) in April. Economists expected an increase of 1.4% per annum.
On a monthly basis, consumer prices were unchanged after rising 0.3% in May. Consensus estimates suggested an increase of 0.1%. The FSO reported that prices for international package holidays and for fruiting vegetables and brassicas increased. Hotels also recorded a price increase, as did the hire of private means of transport. In contrast, prices for air transport, petrol and diesel decreased, as did those for clothing and footwear, the latter due to seasonal sales.
Core inflation - excluding fresh and seasonal products, energy and fuel - fell by 0.1% on a monthly basis and rose by 1.1% per year.
The data also showed that in June, the harmonized index of consumer prices (HICP) - an indicator that allows to compare inflation in Switzerland with inflation in European countries - decreased by 0.1% compared to May and increased by 1.3% per year.