{
  "id": 77091,
  "title": "Swiss Franc: inflation undershoots SNB outlook – Nomura",
  "url": "https://urgent.news/2026/08/03/swiss-franc-inflation-undershoots-snb-outlook-nomura",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-03T08:40:04.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/swiss-franc-inflation-undershoots-snb-outlook-nomura-202608030840"
  },
  "original_language": "en",
  "account": "Nomura strategists have reported that the Swiss Consumer Price Index (CPI) slowed to 0.4% year-on-year in July, falling below the Swiss National Bank's (SNB) forecast of 0.7% for the same period. This indicates a softer outlook for the Swiss Franc (CHF). The core inflation remained at 0.3% year-on-year, slightly lower than both Nomura's expectation of 0.4% and the consensus of 0.3%. The main factor contributing to the slowdown was a decline in transport prices, which fell by 0.4% month-over-month, contrary to the forecast of a 0.6% increase. Despite domestic prices increasing by 0.5% year-on-year, imported product prices remained unchanged from a year earlier, as the easing of imported energy cost pressures after the Iran war had a moderating effect on inflation.",
  "summary": "Nomura strategists note that Swiss Consumer Price Index (CPI) slowed to 0.4% year-on-year in July, helped by weaker car fuel prices and easing imported energy costs.",
  "key_points": [
    "Swiss CPI slowed to 0.4% YoY in July, below SNB's 0.7% forecast",
    "Core inflation at 0.3% YoY, lower than Nomura's 0.4% and 0.3% consensus",
    "Transport prices declined 0.4% MoM, main factor in inflation slowdown"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Swiss Franc weakens following soft inflation, manufacturing data",
        "url": "https://urgent.news/2026/08/03/swiss-franc-weakens-following-soft-inflation-manufacturing-data",
        "published": "2026-08-03T09:12:08.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}