Suisse Taux d'inflation

Consumer prices in Switzerland were flat year-on-year in November 2025, following a 0.1% increase in October and against market forecasts of a 0.1% rise. Prices continued to fall for food and non-alcoholic beverages (-0.4% vs -0.5% in October), clothing and footwear (-0.3% vs -0.4%), household goods and services (-2.6% vs -1.8%), and transport (-1.7% vs -1.7%). At the same time, inflation eased for restaurants and hotels (0.7% vs 1.3%) and housing & energy (0.5% vs 0.8%), while healthcare prices did not change. By contrast, alcoholic beverages and tobacco prices picked up (1.7% vs 1.2%). The core inflation rate, which excludes volatile items such as unprocessed food and energy, eased for the second month to 0.4%, the lowest since August 2021, from 0.5% in October. On a monthly basis, consumer prices fell by 0.2% in November, after a 0.3% decrease in the prior month, in line with market estimates.