Monthly CPI Declines Slightly

Switzerland's annual inflation rate remained virtually unchanged at 0.2% in August, matching July's figure, according to the Federal Statistical Office's Thursday report.

Key Price Movements

The consumer price index (CPI) decreased 0.1% monthly to 107.7 points, driven by lower prices for international package holidays, supplementary accommodation, and air transport. Conversely, housing rentals and clothing/footwear prices saw monthly increases.

Core and Harmonized Metrics

Core inflation (excluding fresh/seasonal products, energy, and fuel) slipped 0.1% monthly but rose 0.7% annually. The Swiss Harmonized Index of Consumer Prices (HICP) decreased 0.1% monthly while remaining flat year-over-year compared to August 2024.