Swiss consumer prices were flat in July from the previous month, defying expectations for a decline, while the annual rate accelerated to 0.2% from 0.1%. Core inflation, which strips out volatile items, quickened to 0.8% year on year versus 0.6% in June. The uptick, though modest, comes after months of near-zero readings and may factor into the Swiss National Bank’s deliberations on whether to maintain or reintroduce negative interest rates. In Australia, the Melbourne Institute’s unofficial inflation gauge jumped 0.9% in July, its largest monthly increase since early 2024, but the annual pace held steady at 2.4%. The pickup follows a series of softer official readings and will feed into expectations for the Reserve Bank of Australia’s next policy assessment. Turkey delivered a rare downside surprise as headline inflation slowed to 33.52% in July, dropping more than expected from 35.05% in June. Month-on-month price growth eased to 2.06%, short of economists’ forecasts, reinforcing signs that the country’s disinflation trend is gaining traction after a series of aggressive interest-rate increases.