Swiss prices hold steady as fuel rises and holidays get cheaper
Swiss consumer prices were unchanged in September as higher fuel prices were offset by cheaper holidays, car hire and accommodation. Annual inflation reached 1.0 per cent, while core inflation was 0.5 per cent. Imported goods became more expensive on the month, but domestic prices declined, leaving the overall index at its August level.
Economics & Markets··Evening
The monthly index stays at August’s level
Swiss consumer prices were unchanged in September from August, while annual inflation was 1.0 per cent. The Federal Statistical Office’s release put core inflation at 0.5 per cent annually.[1], [2]
The core measure excludes fresh and seasonal products, energy and fuel. The overall consumer price index remained at 101.5 points on its December 2025 base of 100. Domestic-product prices fell 0.2 per cent monthly, whereas imported-product prices rose 0.5 per cent. Their annual increases were 0.7 per cent and 2.1 per cent respectively.[1]
Fuel rises meet cheaper travel services
Energy and fuel prices rose 2.3 per cent over the month. Heating oil increased 8.2 per cent, diesel 4.4 per cent and petrol 3.3 per cent. Against those increases, international package holidays became 3.9 per cent cheaper. Car rental and car sharing fell 14.2 per cent, and hotel prices declined 1.2 per cent.[1]
European comparison uses a separate index
The supplementary harmonised consumer price index, designed for comparison with European countries, fell 0.1 per cent monthly and rose 1.2 per cent annually. It stood at 101.37 points on a 2025 base of 100. In the national index, goods became 0.4 per cent more expensive on the month, while services were 0.3 per cent cheaper.[1]
