Consumer prices in Switzerland rose by 0.3% year-on-year in March 2026, below market forecasts of a 0.5% increase but accelerating from a 0.1% gain in the previous month. The latest figures marked the highest reading since March 2025, mainly driven by higher costs for housing and energy (1.3% vs 0.7% in February), recreation, sport, and culture (1.1% vs 1.2%), and other goods and services (0.8% vs 0.2%). At the same time, prices declined less for clothing and footwear (-0.7% vs -1.2%) and transport (-0.8% vs -1.8%).

On the other hand, costs decreased further for food and non-alcoholic beverages (-0.5% vs -0.3%), while inflation softened for restaurants and hotels (0.2% vs 0.9%). Monthly, the CPI went up by 0.2%, less than the expected 0.5% increase and easing from February’s 0.6% gain. Annual core inflation, which excludes volatile items such as unprocessed food and energy, stood at 0.4%, unchanged from the preceding period.

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