Swiss Consumer Inflation Steady at 0.2%

Consumer prices in Switzerland rose 0.2% year-on-year in August 2025, matching July’s pace and in line with expectations. This marked the third consecutive month of inflation, driven by a sharp rebound in clothing and footwear prices (4.5% vs -0.2%) and a modest uptick in housing and energy (0.4% vs 0.2%). Still, downward pressure persisted from deflation in food and non-alcoholic beverages (-0.5% vs -0.6%), transport (-2.4% vs -2.4%), household goods and services (-1.1% vs -1.3%), and healthcare (-0.7% vs -0.1%). Meanwhile, price growth eased for alcoholic beverages and tobacco (1.2% vs 1.3%) and communications (0.2% vs 0.3%), while recreation and culture held steady (0.8% vs 0.8%). In contrast, education costs accelerated (2.6% vs 0.7%) and prices for restaurants and hotels rose further (1.8% vs 1.6%). On a monthly basis, consumer prices went down 0.1% in August, following no change in July.