Swiss May consumer prices rose 0.6% YoY, unchanged from April and below
economists' expectations, the Swiss Federal Statistical Office said. The print,
the last inflation release before the Swiss National Bank's June 18 policy
decision, keeps inflation well within the SNB's 0–2% target range. Data indicate
a stronger franc appears to be offsetting higher energy costs. Economists
currently expect no rate moves before 2028. Swiss National Bank chairman Martin,
unlike euro-area peers preparing to raise rates, reiterated on Wednesday that
energy-driven consumer price increases are likely temporary.
