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The year-on-year change in Swiss consumer prices.
| Published by | Swiss Federal Statistical Office |
|---|---|
| Country | Switzerland |
| Currency affected | CHF |
| Release frequency | Monthly |
| Usual release time | 06:30 GMT (UTC+00:00) |
| Impact rating | Medium impact |
| Typical volatility | 20-45 pips on EUR/CHF inside the first 30 minutes |
The Switzerland CPI (YoY) is released monthly by Swiss Federal Statistical Office, usually at 06:30 GMT (UTC+00:00). These are the dates inside our calendar window.
Every release in the window has already been published. The next one falls outside the four-week demo calendar.
Swiss inflation runs close to zero, so even small deviations shift the odds of a return to negative rates.
A strong franc imports disinflation, which links the print directly to SNB intervention policy.
Typical volatility around the release is 20-45 pips on EUR/CHF inside the first 30 minutes. That is an average, not a limit: when the figure lands far from consensus, or when it contradicts the central bank's own guidance, the move can be several times larger and can extend for the rest of the session.
| Pair | Why it reacts |
|---|---|
| EUR/CHF | Primary franc expression. |
| USD/CHF | Dollar leg of the franc trade. |
| CHF/JPY | Funding-currency cross. |
Surprise is the released figure minus the consensus forecast, in the units of the release. Green means the figure printed above consensus, red below.
| Release date | Period | Previous | Forecast | Actual | Surprise |
|---|---|---|---|---|---|
| 5 Jul 2026 | Jun 2026 | 0.2% | 0.5% | 0.4% | -0.1 |
| 5 Jun 2026 | May 2026 | 0.3% | 0.2% | 0.2% | 0.0 |
| 6 May 2026 | Apr 2026 | 0.6% | 0.3% | 0.3% | 0.0 |
| 6 Apr 2026 | Mar 2026 | 0.5% | 0.6% | 0.6% | 0.0 |
| 7 Mar 2026 | Feb 2026 | 0.4% | 0.5% | 0.5% | 0.0 |
| 5 Feb 2026 | Jan 2026 | 0.5% | 0.3% | 0.4% | +0.1 |
| 6 Jan 2026 | Dec 2025 | 0.2% | 0.5% | 0.5% | 0.0 |
| 7 Dec 2025 | Nov 2025 | 0.3% | 0.1% | 0.2% | +0.1 |
Swiss Federal Statistical Office publishes the Switzerland CPI (YoY) for Switzerland. It is released monthly, typically at 06:30 GMT (UTC+00:00).
We rate this release medium impact. In our sample the typical move is 20-45 pips on EUR/CHF inside the first 30 minutes, though a large deviation from consensus can produce considerably more.
EUR/CHF, USD/CHF, CHF/JPY carry the cleanest reaction. Primary franc expression.
No. The currency reaction depends on how the figure changes the expected path of interest rates, not on whether the headline is high or low. The same surprise can be read very differently depending on the central bank's current stance.