Schweiz Verbraucherpreise

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 month of inflation, driven by a sharp rebound in clothing and footwear prices (4.5% vs -0.2% in July) and a modest uptick in housing and energy (0.4% vs 0.2%). Inflation also accelerated for education (2.6% vs 0.7%) and restaurant and hotels (1.8% vs 1.6%). Meanwhile, downward pressure came from ongoing 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 health (-0.7% vs -0.1%). Price growth also 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%). Core inflation, which excludes volatile items such as unprocessed food and energy, eased to 0.7% from 0.8%. Monthly, the CPI dipped 0.1%, missing forecasts for no change, after being flat in July.