Tag Archives: Inflation Switzerland

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...

Switzerland’s consumer price index (CPI) increased by 0.2% in August 2023 compared with the previous month, an annualised rate of 2.4%. However, year-on-year inflation was +1.6% compared with the same month of the previous year, below the Swiss National Bank’s (SNB) targeted maximum rate of 2.0%, reported Switzerland’s Federal Statistical Office (FSO). © Scottnodine | Dreamstime.comThe 0.2% increase compared with the previous month is due to several factors, wrote FSO. The rising prices...

This week, Swiss Post announced it would increase the cost of sending letters and parcels from the beginning of 2024. © Swiss PostAt the beginning of 2024, nearly everything is set to rise in price as the Swiss VAT rate jumps from 7.7% to 8%. In addition, more and more companies are joining the party, pushing up their prices. From the beginning of 2024, A and B class letters will cost 10 cents more to post, and parcels will cost a further CHF 1.50. These costs will find their way into...

The latest Swiss inflation forecast published this week by SECO points to a further rise in interest rates later this month. © Cameracraft8 | Dreamstime.comAlthough the expert group on business cycles continues to expect significantly below-average growth for the Swiss economy, with a rate of 1.1% in 2023, followed by 1.5% in 2024, its forecast inflation of 2.3% in 2023, is higher than the central bank’s target this year, pointing to an interest rate rise on 22 June 2023 when the Swiss...

Data published by the Federal Statistical Office on 5 June 2023 shows inflation was 0.3% over the month of May 2023, an annualised rate of 3.6%. Photo by Karolina Grabowska on Pexels.comThe 0.3% rise in prices in May follows zero inflation in April 2023. Across the 12 months up until the end of May, inflation was 2.3%, compared to 2.7% in April. However, the decline in annual rate hides the monthly uptick of 0.3%. The annual fall is due to the base effect. The monthly inflation rate was...

Switzerland’s strong currency and the widespread influence of the administration on many prices means the country has escaped much of the recent inflation afflicting many nations. But increasingly, inflation is entering the scene. This week, Swisscom announced it plans to change its general terms and conditions to make it possible to increase the price of existing contracts, reported RTS. © Marlon Trottmann | Dreamstime.comSwisscom recently warned customers that it was changing its terms...

Over the month of December 2022, Switzerland’s consumer price index (CPI) fell by 0.2%, bringing the annual inflation rate for 2022 to +2.8%, according to Switzerland’s Federal Statistical Office (FSO). Photo by Karolina Grabowska on Pexels.comThe modest deflation during December 2022 was driven by several factors including falling prices for fuels and heating oil. The prices for fruiting vegetables also declined, along with the prices for medicines. In contrast, rents for holiday flats...

In November 2022, Switzerland’s consumer price index remained stable. At the end of November 2022, the price of the same basket of goods was 3% higher than it was at the end of November 2021, the same level as it was at the end of October 2022, according to the Federal Statistical Office. Photo by Karolina Grabowska on Pexels.comHowever, the headline inflation figure of 0% for the month of November 2022 hid a mixed bag of price movements. The prices of rents (+0.4%), gas (+2.1%), petrol...

After construction workers went out on strike for two days in French-speaking Switzerland, construction workers protested in Zurich over hours and pay on 11 November 2022, reported RTS. Photo by Rodolfo Quirós on Pexels.comWith inflation in Switzerland running at 3%, construction workers are demanding higher pay. However, the construction industry has responded with an offer of better pay tied to higher maximum hours. The industry would like maximum weekly hours to rise to 58 and the...

On 4 July 2022, Switzerland’s Federal Statistical Office (FSO) published June inflation data, which show prices 3.4% higher than one year ago, well above the Swiss National Bank target of 2.0%. Photo by Ahmed Muntasir on Pexels.comSwitzerland’s consumer price index (CPI) increased by 0.5% in June 2022, less than the 0.7% rise in May 2022. At the end of May 2022, annual inflation was 2.9%. By the end of June 2022 it was 3.4%, the highest since 1993. Big drivers of rising prices continue...