Switzerland’s CPI inflation stable at four-month high

Annual consumer price inflation in Switzerland has remained stable at 1.4% in May, the latest data by the Swiss Federal Statistical Office showed on Tuesday.

It has been the highest inflation rate since December 2023.

Price increase accelerated for housing and utilities, by 3.8% YoY after a 3.3% YoY rise in April.

Cost of transport went up 0.7% YoY in May after stalling in the prior month.

Conversely, price increase slowed for food and non-alcoholic beverages (0.2% YoY from 1% YoY in April) and alcoholic beverages and tobacco (0.2% YoY from 2% YoY in April).

Meanwhile, prices continued to decrease for household goods and services (-0.9% YoY after -0.5% YoY in April) and healthcare (-0.5% YoY after -0.6% YoY in April).

The nation’s annual core inflation rate, which excludes volatile categories such as unprocessed food and energy, also remained steady at 1.2% in May.

In monthly terms, consumer prices in the country increased 0.3% in May, or at the same rate as in the previous month.

The Swiss Franc was 0.15% firmer on the day against the US Dollar, with the USD/CHF currency pair last trading at 0.8943.

The major Forex pair was holding not far from lows last seen on March 21st.