Swiss Inflation Holds Steady at 0.2% in August, Core Inflation Eases Slightly

By / / Breaking News

Key Takeaways

  • Switzerland's annual inflation rate remained stable at 0.2% in August 2025, matching the previous month's figure and largely meeting market expectations.
  • Core inflation, which excludes volatile items such as unprocessed food and energy, eased slightly to 0.7% year-over-year in August, down from 0.8% in July.
  • On a monthly basis, the overall Consumer Price Index (CPI) experienced a modest decline of 0.1% in August, missing some forecasts for a flat reading.
  • The EU Harmonized Consumer Price Index (HICP) for Switzerland registered 0.0% year-over-year, marking an increase from the -0.1% recorded in the previous month.

Switzerland's inflation remained subdued in August 2025, with the headline Consumer Price Index (CPI) holding steady at 0.2% on an annual basis. This figure was consistent with July's reading and aligned with consensus forecasts, indicating a continued period of low price growth in the Swiss economy. The stability in annual inflation comes as the Swiss National Bank (SNB) continues to monitor economic developments.

Despite the stable headline figure, core inflation, which strips out more volatile components like fresh food and energy, showed a slight deceleration. The year-over-year core CPI eased to 0.7% in August, a marginal decrease from the 0.8% observed in July. This suggests that underlying price pressures may be moderating.

Looking at month-over-month figures, the overall CPI saw a 0.1% decrease in August compared to July. This decline was attributed to several factors, including lower prices for international package holidays, air transport, and private vehicle rentals, partially offset by increases in housing rentals and clothing prices. This monthly dip was a sharper fall than some analysts had anticipated, with some forecasts predicting no change.

The Harmonized Index of Consumer Prices (HICP), which allows for comparison with other European countries, also reflected the muted inflation environment. Switzerland's HICP recorded 0.0% year-over-year in August, an uptick from the -0.1% seen in the prior month. On a monthly basis, the HICP also decreased by 0.1%. These figures highlight Switzerland's position among countries with some of the lowest inflation rates globally.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. We are not financial professionals. The authors and/or site operators may hold positions in the companies or assets mentioned. Always do your own research before making financial decisions.
Scroll to Top