Inflation in Switzerland edged back into positive territory in June. Consumer prices rose by 0.1% year on year, according to the Federal Statistical Office (FSO), reversing deflation of –0.1% recorded in May—the country’s first negative reading in over four years.
Price growth in Switzerland has remained subdued for months. Since September 2024, inflation has stayed below 1%, far from a peak of 3.5% in August 2022. The last time it exceeded 2% was in spring 2023.
Domestic goods grew costlier, with prices up 0.7% over the year. In contrast, imported goods became 1.9% cheaper, reflecting weaker global price pressures and a strong franc. Core inflation—which strips out volatile items such as energy, fuel, and fresh produce—rose modestly to 0.6% in June, up from 0.5% in May.
On a monthly basis, the national consumer price index rose by 0.2%, reaching 107.8 points. The uptick was driven in part by seasonal rises in hotel prices and overseas package holidays, according to the Federal Office for Social Affairs. Vegetable prices and private transport costs also climbed. Offsetting these gains were falling prices for airfares, petrol, and stone fruit.
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