Swiss consumer prices surprised slightly to the upside in June, with headline CPI rising 0.2% mom and turning positive on an annual basis at 0.1% yoy, reversing May’s -0.1% yoy print. Core CPI also firmed to 0.6% yoy from 0.5% yoy, suggesting that underlying inflation pressures remain subdued but stable.
Domestic prices were the key driver, up 0.2% mom and 0.7% yoy. Imported goods remained weak—flat on the month and still down -1.9% yoy despite an improvement from May’s -2.4% yoy.
