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ZURICH, Aug 3 (Reuters) – Swiss annual inflation eased by a tenth of a percentage point in July, in line with analysts’ expectations, as the overall cost of petroleum products came down compared to the previous month, official data showed on Monday.
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Swiss consumer prices were 0.4% higher than in July 2025, figures from the Federal Statistical Office showed. In June, Swiss annual inflation stood at 0.5%.
Month-on-month, consumer prices dipped 0.1%, again in line with the consensus forecast of a Reuters poll of analysts.
The cost of petroleum products in Switzerland declined 0.7% compared with June, the data showed. Prices for clothing and footwear also fell due to seasonal sales. By contrast, the cost of heating oil jumped from the previous month.
Year-on-year, the cost of petroleum products was up 13.6%, pushed higher by the conflict in the Middle East.
The Swiss National Bank left its benchmark interest rate unchanged in June, saying its medium-term inflation outlook had barely changed despite a recent uptick in price pressures.
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The SNB targets an inflation rate of between 0 and 2%.
(Writing by Dave Graham, Editing by Friederike Heine)
Copyright Reuters or USA Today Network via Reuters Connect.
This story was originally published August 3, 2026 at 12:10 AM.