Switzerland’s consumer prices increased by 0.5% year-on-year in June 2026, in line with market expectations but slightly below the 0.6% rise recorded in May. This was the lowest inflation rate since March, reflecting easing price pressures across most major categories. Housing and energy inflation slowed to 1.2% from 1.5% in May, while transport inflation moderated to 1.8% from 2%. Price growth also cooled for restaurants and hotels (0.7% vs 1%) and for recreation, sport, and culture (0% vs 1.2%).
By contrast, deflation in food and non-alcoholic beverages held steady at 1.2%. Clothing and footwear prices rebounded, rising 0.1% after a 1.2% decline in the previous month. Insurance and financial services posted faster price gains, with inflation edging up to 2.3% from 2.1%.
On a monthly basis, the consumer price index was unchanged, defying expectations of a 0.1% increase and following a 0.2% rise in May. Meanwhile, annual core inflation—which excludes volatile components such as unprocessed food and energy—remained stable at 0.3% in June.
