(19.01.2022) Consumer prices have risen again in Switzerland. In contrast to 2020’s negative inflation rate of -0.7%, 2021 was characterized by an average annual inflation of 0.6%, according to the Federal Statistical Office (FSO).
In 2021, the Swiss paid higher prices. This increase is in line with the past seven-year trend. With the exception of 2016 (-0.4%) and 2020 (-0.7%), the increase in the consumer price index (CPI) as published by the FSO has fluctuated between 0.4 and 0.9%. The CPI is used to calculate price changes in Switzerland. With a benchmark set in December 2015, the index provides monthly monitoring of the situation.
Rising oil prices and housing rents account for the 2021 increase. At the same time, prices of international travel packages and medicines decreased. Over the past year, domestic products increased by 0.3% on average, and those of imported products by 1.5%.
In December 2021, the CPI was below the annual average, with a decrease of 0.1% compared to November. This situation is explained by a reduction in the prices of heating oil, air transport and fuel. In contrast, private vehicle rental, hotel accommodation and second-hand cars increased in cost.
Last modification 19.01.2022
