Consumer prices in Switzerland rose by 0.4% year-on-year in July 2026, the smallest increase since March and down from a 0.5% rise in June. The overall slowdown reflected further price declines in several categories, including food and non-alcoholic beverages (-1.3% vs -1.2% in June), clothing and footwear (-0.9% vs -0.1%), and household goods and services (-1.7% vs -1.4%).
At the same time, price growth eased for transport (0.8% vs 1.8%), restaurants and hotels (0.5% vs 0.7%), and other goods and services (0.2% vs 0.6%). In contrast, costs rose more rapidly for housing and energy (1.4% vs 1.2%), information and communication (0.5% vs 0.3%), and recreation, sport and culture (0.6% vs 0.0%), while inflation in education remained unchanged at 2.6%.
On a monthly basis, consumer prices slipped by 0.1% in July, the first decline in six months, following a flat reading in June. Meanwhile, annual core inflation, which excludes volatile items such as unprocessed food and energy, held steady at 0.3%.
