Energy Prices Decline, Swiss Inflation Rate Slightly Drops

Odaily Planet Daily News - Switzerland's inflation rate in June saw a slight decrease, marking the first drop since the surge in energy prices caused by the outbreak of the Iran war. The Swiss Federal Statistical Office stated on Thursday that the annual inflation rate for June was 0.5%, down from 0.6% in April and May. The inflation rate in the previous two months had reached its highest level since 2024. Data shows that the price of petroleum products rose 15% year-on-year in June but declined compared to May; airline transportation prices also dropped, as these are particularly sensitive to global energy price fluctuations. Meanwhile, hotel and car rental prices increased. The slight decline in inflation also supports the view of Swiss National Bank President Schlegel. At last month's monetary policy meeting, he stated that despite the energy price shocks triggered by the Middle East conflict, medium-term inflationary pressures remain generally stable. (Jin10)