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Switzerland’s consumer price index (CPI) changed by -0.1% in September 2023 compared with the previous month, and year-on-year inflation was +1.7%, a rate below the Swiss National Bank’s (SNB) target maximum rate of 2.0%, reported Switzerland’s Federal Statistical Office (FSO). © Bigpressphoto | Dreamstime.comThe 0.1% fall compared with the previous month was due to several factors, wrote FSO. The price decline was driven by falling hotel prices, air transport prices and lower priced...

At 37% of the total, one-person households are now the most common way to live in Switzerland, according to recently published data by Switzerland’s Federal Statistical Office (FSO). Photo by Andrea Piacquadio on Pexels.comThe data from 2022, show that 37% of households contained one person, followed by the 32% that contained two, 13% that contained three, 12% with four and 5% with five or more. This does of course not mean that 37% of the population lived alone. Households of five or...

After the United States, Switzerland has the world’s second most costly healthcare. Cost-saving reforms put forward by the health minister over many years have yielded little. Last week, average compulsory health insurance premiums rose the most in more than a decade. This week, an investigation by the newspaper SonntagsZeitung (NZZ), revealed 90 parliamentarians working as lobbyists for the healthcare sector, reported RTS. Photo by Louis on Pexels.comIn addition to widespread...

Health insurance premiums will rise by 8.7% on average in 2024, announced the authorities this week. This is the sharpest rise since 2010 when they rose by 8.6%. The average monthly premium across Switzerland in 2024 will be CHF 359.50. © Alexlmx | Dreamstime.comHealth Minister Alain Berset and Federal Office of Public Health (FOPH) director Anne Lévy announced the sharp rise at a media conference in Bern. The rise in costs will be between 6.5% and 10.5% depending on the canton....

This week, the Swiss National Bank (SNB) surprised many investors by leaving its benchmark interest rate on hold at 1.75%. The decision to hold mirrors decisions this week by the US Fed and Bank of England not to raise rates. By contrast Norway and Sweden lifted rates this week. Thomas Jordan, head of the SNBIn addition, like central bankers in the US and England, the SNB refused to rule out future hikes. And like Sweden the SNB signalled that it would continue to support the currency by...

A popular initiative has been launched in Switzerland to vote on partially nationalising the UBS Group. For a popular initiative to reach the voting stage 100,000 signatures need to be collected within 18 months. © Andersastphoto | Dreamstime.comThe banks initiative aims to change the Swiss constitution to require large banks and insurance companies of systemic importance to be managed as joint stock companies with the federal government as majority shareholder, a set up described as a...

On 18 September 2023, the Council of States, Switzerland’s upper house, followed parliament in passing changes to Swiss tenancy laws that make life easier for landlords, reported parlament.ch. Two changes reduce tenants ability to sublet and make it easier for landlords to end rental contracts. Housing Switzerland © Thomas Stoiber | Dreamstime.comSupported by 25 versus 11, the upper house passed a new rule that prevents tenants from subletting a property for longer than 2 years. The new...

Many drugs come in two forms: expensive branded drugs and cheaper generic copies. Switzerland’s Federal Council hopes a shift to cheaper generic and bio-similar medicines can shave CHF 250 million from Switzerland’s rapidly rising cost of healthcare, reported SRF. New rules on medicine choices and health insurance were already set to come into force on 1 January 2024. However, this week the Federal Council announced that it will make the new rules tougher that first planned in the hope of...

Switzerland has one of the tightest housing markets in Europe. Only Iceland has fewer empty homes. On 1 June 2023, only 1.15% of homes were empty across Switzerland, according to data from the Federal Statistical Office (FSO). Luzern Switzerland © Marekusz | Dreamstime.comAcross the whole country there were fewer than 55,000 places available to those looking for somewhere to live, 6,700 fewer than at the same time in 2022, wrote the Federal Statistical Office (FSO), a drop of 10.9%....

Home rent could rise 15% in Switzerland by 2026, according to Martin Tschirren, the head of Switzerland’s federal housing office, reported RTS this week. © Elenaphotos | Dreamstime.comTschirren thinks the rental reference rate could rise again over the coming year or two – the rental reference rate is an officially computed figure that reflects average mortgage rates. It is used to set rent levels in many rental contracts in Switzerland. It is reviewed quarterly and the latest rate was...