Last year average annual inflation stood at 1.1%, down from 2.1% in 2023 and 2.8% in 2022.
Keystone-SDA
Consumer prices fell last year in Switzerland, new figures show. Higher rents and electricity prices were partially offset by lower prices for gas and prescription drugs.
+Get the most important news from Switzerland in your inbox
Last year average annual inflation stood at 1.1%, down from 2.1% in 2023 and 2.8% in 2022 following Russia’s invasion of Ukraine, the Swiss Federal Statistical Office (FSO) said on Tuesday.
In December, year-on-year inflation was 0.6%. On a month-on-month basis, the consumer price index (CPI) fell by 0.1%. These figures are in line with the forecasts of economists polled by the AWP news agency.
+ Switzerland navigates own course through inflation maze
Cheaper petrol and diesel
During the last month of 2024, the main contributors to lower inflation were food prices, which fell by 0.9% compared with December 2023. The costs of clothing and footwear (-1.4%), medicines (-2.8%), air travel (-4.6%), diesel (-5.4%) and petrol (-1.3%) also eased the pressure on Swiss consumers’ wallets.
Meanwhile, rents rose by 3.4%, while the costs of foreign holidays (+3.8%) and coffee (+2%) were also higher.
More
More
What lies ahead for Switzerland: an economic outlook for 2025
Translated from French by DeepL/sb
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
