The rise in the cost of oil products, gas, cars and rent were the main factors, the Federal Statistical Office (FSO) said in a statementExternal link on Wednesday. On the other hand, the price of medicine and mobile phone subscriptions fell.
Inflation was 1.6% in January and rose steadily to a peak of 3.5% in August, before falling back slightly. However, it remains significantly lower than in other countries. On Tuesday Switzerland’s main trading partner, Germany, said inflation had climbed to 7.9% for 2022.
The FSO also released the year-on-year figures for December: also an increase of 2.8%. This figure, down from 3% in October and November, is below analysts’ expectations of 2.9%-3.1%.
The consumer price index (CPI) fell by 0.2% in December 2022 compared with the previous month, reaching 104.4 points (December 2020 = 100). This is explained by several factors, including lower prices for fuel and heating oil, the FSO said. Prices for fruit and vegetables also fell, as did those for medicine. However, prices for holiday flat rentals and private transport rose.
More
More
Explainer: how Switzerland is dealing with rising prices
This content was published on
Inflation is comparatively moderate in Switzerland, but rising energy and food prices are putting a strain on small budgets.
Bodycams: essential for good law enforcement, or a privacy risk?
Did you ever come across bodycams in your place of residence and if so, how do you think the use of bodycams alter the relationship between the public and (transport) police?
What can be done to protect biodiversity in your country?
Swiss voters are set to decide on a people’s initiative calling for better protection of ecosystems in the country. Have your say on the September 22 vote.
Humanitarian law “not an à la carte right”: Swiss foreign minister
This content was published on
UN Security Council members, with the exception of Moscow, are in Geneva for the 75th anniversary of the Geneva Conventions.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Economiesuisse expects slow growth and low inflation
This content was published on
Inflation in Switzerland in 2023 is expected to remain above the central banks target range, according to economiesuisse.
Geldcast Update: central banks in a stagflation dilemma
This content was published on
The economy is weakening and at the same time, inflation is still clearly too high. This poses a dilemma for central banks.
Inflation and interest rates: how Switzerland is different
This content was published on
It will be a while before inflation drops again, according to Nannette Hechler-Fayd’herbe, head of investments at Credit Suisse.
This content was published on
The price of Swiss household goods rose 3.4% in June compared to the same month last year, led by the surging cost of fuel and heating oil.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.