Switzerland Consumer Prices Edge Up in June

Consumer prices in Switzerland ticked up 0.1% year-on-year in June 2025, rebounding from a 0.1% fall in the previous month, which was the first decline since March 2021. The latest reading also defied market expectations of a 0.1% drop. Prices increased for restaurants and hotels (1.6% vs 1.3% in May) and rebounded for clothing and footwear (1% vs -0.3%). Housing and energy costs remained steady at 1.1%, while food prices were unchanged after a 0.3% fall in the prior month. Meanwhile, prices for transport (-3.7%) and recreation and culture (-0.1%) declined at the same pace as in the previous month. Core inflation, which excludes volatile items such as unprocessed food and energy, edged higher to 0.6% in June from May’s 44-month low of 0.5%. On a monthly basis, consumer prices increased 0.2% in June, following a 0.1% rise in May, mainly attributed to higher costs for international holidays and hotels.