As expected, Swiss inflation slowed in May

A month earlier, in April, annual inflation in Switzerland was 2.6 percent. The slowdown in annual inflation mainly reflected the moderate increase in the prices of energy, clothing, and alcoholic beverages and tobacco products.

In line with analysts’ expectations, consumer prices increased by 0.3 percent on a monthly basis in May after the stagnation in April.

Core inflation excluding fuel and food prices was 0.2 percent on a monthly basis, and 2.2 percent on an annual basis in the fifth month of the year.