Follow us
(Bloomberg) — Switzerland’s inflation rate came in lower in than economists expected last month, a sign the strength of the franc may be offsetting the impact of high energy costs.
Consumer prices rose 0.6% in May from a year earlier, the country’s statistics office said Thursday, matching the result of the previous month. The reading is the fastest since 2024, but weaker than the 0.7% figure forecast in a Bloomberg survey. Core inflation was also unchanged, at just 0.3%.
The report is the final snapshot of consumer prices before the Swiss National Bank’s decision on June 18, and underscores how inflation remains comfortably within the 0-2% range targeted by policymakers. Economists currently don’t expect any interest-rate move before 2028, when they see a hike materializing.
Unlike peers in the neighboring euro zone, where officials are preparing to raise borrowing costs, SNB President Martin Schlegel has been sanguine about the impact of higher energy prices, and on Wednesday reiterated his view that the pickup in consumer prices will be short-lived.
