In July, Switzerland's consumer price inflation remained stable as anticipated, according to the Federal Statistical Office's report released on Friday.
The consumer price index increased by 1.3% year-on-year, consistent with June's rate. In comparison, May saw a slightly higher inflation rate of 1.4%.
The overall inflation rate was primarily influenced by a 3.8% rise in housing and energy costs. In contrast, prices for food and non-alcoholic beverages saw a minimal increase of 0.1%, and clothing and footwear prices experienced a reduction of 1.8% from the previous year.
On a month-to-month basis, consumer prices decreased by 0.2% in July, following a period of stability in the preceding month. This decline, the first in eight months, was attributed to several factors, including reduced prices for international package holidays and air transport.
