Swiss Inflation Rate Climbs in July

The Federal Statistical Office of Switzerland reported a slight increase in the annual inflation rate, which moved from 0.1% in June to 0.2% in July. This change was detailed in their latest publication on Monday.

Key Factors Behind the Inflation Rise

Increased prices in sectors such as hotels, supplementary accommodation, and private transport contributed to the uptick. Conversely, declines were noted in the costs of international and domestic package holidays, air transport, as well as clothing and footwear.

Monthly and Core Inflation Insights

When compared to the previous month, the inflation rate saw minimal change. The core inflation rate, which excludes food and energy, was recorded at 0.8% annually but experienced a slight decrease of 0.1% on a monthly basis. Additionally, the Harmonized Index of Consumer Prices (HICP) showed a 0.3% increase month-on-month and a 0.1% rise year-on-year.