FX.co ★ Switzerland Inflation Rate Above Forecasts

In July 2025, Switzerland's consumer prices experienced a 0.2% year-on-year increase, surpassing the anticipated market expectation of a 0.1% rise. This follows a similar 0.1% increase observed in June, marking the second consecutive month of inflationary activity. Price upticks were noted in several sectors: restaurants and hotels maintained a 1.6% increase, while clothing and footwear saw a modest rise of 0.2% compared to the previous 1.0%. The housing and energy sector showed a 1.0% increase, slightly down from June's 1.1%, and recreational and cultural activities witnessed a turnaround with a 0.7% increase from a prior decline of 0.1%. Conversely, there were declines in the prices of food, dropping by 0.6% from a stable previous reading, and transport, which fell by 2.4% compared to a larger drop of 3.7% in June. Core inflation, excluding the more volatile sectors such as unprocessed food and energy, rose to 0.8% in July, up from 0.6% in the previous month. On a monthly scale, consumer prices remained stable in July, not meeting the market prediction of a 0.2% decrease, following a 0.2% increase in June. This stability was a result of increased costs in private transport, hotels, and additional accommodation, which were balanced by decreases in prices for overseas package holidays and clothing and footwear.