By Ed Frankl
Swiss inflation edged lower in June, the first decline since higher energy prices prompted prices to accelerate after the outbreak of the war in Iran.
The annual rate of inflation was 0.5%, lower than the 0.6% of both April and May, Swiss data agency FSO said Thursday. Inflation in the prior two months had been at its highest level since 2024.
Prices of petroleum products in June were up 15% on year, but had decreased since May, as had prices for air transport, which are particularly exposed to global prices of energy. Hotels and car rentals recorded a price increases, FSO said.
The small fall in annual inflation reinforces comments by Swiss National Bank Chairman Martin Schlegel, who said at last month's monetary-policy meeting that medium-term inflation pressures have remained largely unchanged, despite the energy-price surge prompted by the Middle East conflict.
Write to Ed Frankl at edward.frankl@wsj.com