Petrol gets cheaper

Inflation in Switzerland falls to 1.3 percent

(Bild: kittyfly - stock.adobe.com)

Inflation in Switzerland is significantly lower than in Germany. In June, it fell slightly to 1.3 percent after 1.4 percent in the previous month of May, as reported by the Federal Statistical Office (FSO) on Thursday.

Swiss consumer goods were therefore on average 1.3% more expensive than in the same month last year. Domestic goods continue to be significantly more expensive than a year ago (plus 2.0%), while imported goods (minus 0.8%) are still clearly cheaper.

Core inflation also fell slightly to 1.1% after 1.2% in the previous month. This excludes price changes for the food and energy segments, which are often very volatile. Central banks often look at this figure more than the general inflation figure when combating inflation.

Compared to the previous month, prices have remained stable. The so-called national consumer price index (CPI), which is used to calculate annual inflation, remained at 107.7 points.

Package holidays more expensive, clothing cheaper
According to the FSO, this price stability compared to the previous month is the result of opposing developments that offset each other overall. For example, prices for package tours abroad have risen, as have prices for fruit and vegetables. Prices for hotels and private transportation rentals also rose.

On the other hand, prices for air travel, petrol and diesel have reportedly fallen, as have those for clothing and shoes, which were reduced as part of the sale.