Inflation down to 1.3 percent in June
Published: Thursday, Jul 4th 2024, 08:40
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Annual inflation in Switzerland fell slightly in June. It stood at 1.3 percent after 1.4 percent in the previous month of May, as reported by the Federal Statistical Office (FSO) on Thursday.
This means that Swiss consumer goods were on average 1.3% more expensive than in the same month last year. Domestic goods are still significantly more expensive than a year ago (+2.0%), while imported goods (-0.8%) are still clearly cheaper.
Core inflation also fell slightly, from 1.2% to 1.1%. This excludes price changes for the food and energy segments, which are often very volatile. Central banks often focus more on this figure than on the general inflation figure when combating inflation.
Package tours cheaper
Prices remained stable compared to the previous month. The national consumer price index (CPI), which is used to calculate annual inflation, remained at 107.7 points.
According to the FSO, this price stability compared to the previous month is the result of opposing developments that have 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, according to the data, prices for air travel, petrol and diesel have fallen, as have those for clothing and shoes, which were reduced as part of the sale.
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