As expected, Switzerland's overall CPI growth slowed to 0.6% in December, but the core CPI fell to 0.7% yoy, lower than expectations of 0.8% and November's 0.9%. The core inflation rate in December was the lowest since November 2021. Notably, Switzerland's inflation rate will drop sharply in early 2025, as the 17.8% increase in electricity costs in January 2024 will be replaced by a 10% drop in January 2025.

As expected, Switzerland's overall CPI growth slowed to 0.6% in December, but the core CPI fell to 0.7% yoy, lower than expectations of 0.8% and November's 0.9%. The core inflation rate in December was the lowest since November 2021. Notably, Switzerland's inflation rate will drop sharply in early 2025, as the 17.8% increase in electricity costs in January 2024 will be replaced by a 10% drop in January 2025.