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Inflation in Switzerland has fallen to a reassuring level of 1.4 percent. But households in Switzerland cannot breathe easy. There will be various cost increases next year that will hurt people’s wallets.
Households should even expect additional expenses of several thousand francs. Blick gives an overview of where the price hammer is hitting.
Health insurance premium
Health is becoming an increasingly expensive commodity. In 2023, the average health insurance premium will be 334.70 francs per month. Next year it will rise by an impressive 8.7 percent to 359.50 francs. Adults pay 426.70 francs, young adults aged 19-25 pay 300.60 francs, and children pay 111.80 francs. For a family with two children, this means additional costs of 960 francs per year. Single-person households have to pay an average of 300 francs more for basic insurance.
8.7 percent increase: This is how much health insurance premiums are increasing
Rent
After rents have already risen for many households this year, the next increase in costs will come next April. Landlords can then adjust the rent based on the new reference interest rate of 1.75 percent. With one condition: The current rent is based on a lower interest rate. Excluding additional expenses, the monthly rent of 1,500 francs increases by 45 francs. With a net rent of 2,000 francs, the monthly increase is 60 francs. Extrapolated over the year, this means additional costs of 540 or 720 francs.
Reference interest rate decision: This is what renting households need to know now
electricity price
The price of electricity next year also faces a slight shock: It will increase by around 18 percent on average. A five-room household with an electric stove and glass now pays an average of 32.14 cents per kilowatt-hour. This is almost 5 cents more than in 2023. When calculated for the whole year, the electricity bill for a five-room house comes to 1,446.30 francs. The annual bill is therefore approximately 222 francs higher than in 2023.
Interactive electricity map: How much is the price of electricity increasing in your community?
VAT
VAT will increase from today’s 7.7 percent to 8.1 percent on January 1. Services in the fields of health, culture, education or rental are excluded. On average, households need to make additional expenses of 200 francs per year. Those with lower incomes will bear more of the increase. The reason is simple: Low earners have to spend a large portion of their income to make ends meet. High-income earners can set aside more money and are therefore relatively less responsible for the high tax burden. The additional revenue goes into additional financing for the AHV.
After all, households have to pay a lot of money: additional costs for a family can quickly reach over 2,000 francs.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
