Swiss inflation slowed sharply in 2025

Inflation to slow sharply in 2025 Keystone-SDA

Inflation slowed to 0.2% in Switzerland last year, as an acceleration in rents was offset by a fall in energy costs.

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This trend could encourage the Swiss National Bank (SNB) to maintain the monetary status quo.

Inflation accelerated by an average of 0.2% in 2025, following a rise of 1.1% in the previous year, the Federal Statistical Office (FSO) said in a press release on Thursday.

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The increase over the past year was driven by rents, food commodities such as coffee and chocolate, and restaurant prices. On the other hand, prices for electricity, petrol, medicines and second-hand cars fell, the federal statisticians said.

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In December alone, inflation was zero year-on-year, following a 0.2% fall in November. Over one month, however, it accelerated by 0.1%. While prices of local products rose slightly, those of imported goods fell thanks to favourable exchange rate effects for the Swiss franc.

Economists surveyed by AWP were expecting the consumer price index (CPI) to rise by between 0% and 0.2% year-on-year in December. The monthly change was expected to be between -0.1% and +0.1%.

Adapted from French by DeepL/mga

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