Consumer prices in Switzerland rose by 0.4% year-on-year in July 2026, marking the softest increase since March and easing from a 0.5% gain in the previous month. Prices declined mainly for food and non-alcoholic beverages (-1.3% vs -1.2% in June), clothing and footwear (-0.9% vs -0.1%), and household goods and services (-1.7% vs -1.4%). At the same time, price growth moderated for transport (0.8% vs -1.8%), restaurants and hotels (0.5% vs 0.7%), and other goods and services (0.2% vs 0.6%). On the other hand, costs increased for housing and energy (1.4% vs 1.2%), information and communication (0.5% vs 0.3%), and recreation, sport and culture (0.6% vs 0%), while inflation remained steady for education (at 2.6%). On a monthly basis, consumer prices fell by 0.1%, the first decrease in six months, after a flat reading in June. Meanwhile, annual core inflation, which strips out volatile items such as unprocessed food and energy, remained unchanged at 0.3% in July.