Inflation fell to 1.1 percent in August

Specifically, inflation fell to 1.1 percent in August from 1.3 percent in July, as the Federal Statistical Office (FSO) announced on Tuesday. Compared to the previous month, however, prices remained stable. Domestic goods are still relatively significantly more expensive than a year ago (+2.0%), while imported goods (-1.9%) are still significantly cheaper.

Since the beginning of the year, high inflation has fluctuated in the range of 1.0 to 1.4 percent. Before that, it had risen to a high of 3.5 percent in August 2022. Compared to other countries, Switzerland continues to fare better, although the differences have recently become significantly smaller. In the eurozone, the last available value (August) was 2.2 percent, in the USA (July) it was 2.9 percent.

Meanwhile, the so-called core inflation in Switzerland did not change in August and remains at 1.1 percent. This excludes price changes for the food and energy segments, which are often very volatile. When fighting inflation, central banks often look more at this value than at the general inflation figure.

Apartment rents more expensive

Compared to the previous month of July, prices per balance are unchanged. The so-called national consumer price index (CPI), on the basis of which annual inflation is calculated, remains at 107.5 points.

According to the BFS, prices for apartment rentals and for clothing and shoes have increased compared to July 2024. On the other hand, prices for rentals of private transport, air transport, heating oil and package holidays abroad have fallen, as have those for the hotel and para-hotel industry.