Energy prices fall, Swiss inflation rate declines slightly

Odaily Planet Daily News: Switzerland's inflation rate declined slightly in June, marking the first drop since energy prices surged after the Iran war. The Swiss Federal Statistical Office stated on Thursday that the annual inflation rate for June was 0.5%, lower than the 0.6% recorded in April and May. The inflation rate in the previous two months had reached its highest level since 2024.

Data shows that the prices of petroleum products rose by 15% year-on-year in June but fell compared to May; air transport prices also declined, as these prices are particularly susceptible to fluctuations in global energy prices. Meanwhile, hotel and car rental prices increased. The slight decline in inflation also aligns with the views of Swiss National Bank Chairman Schlegel. During last month's monetary policy meeting, he stated that although the Middle East conflict triggered an energy price shock, medium-term inflationary pressures remain generally stable. (Jinshi)