Huge price increase in two-year comparison: Butter, sugar and fish are 10-15 percent more expensive today than in 2021

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Prices of everyday goods in Switzerland have increased significantly in a two-year comparison, according to the Comparis consumer price index. Price increases are especially strong for food. They became 7.7 percent more expensive on average.

Prices of butter, sugar, fish and seafood increased especially sharply. Butter is almost 15 percent more expensive today than it was two years ago.

“Food plays a central role in our daily perception,” says Comparis finance expert Dirk Renkert. “Above-average price increases in basic foods are immediately reflected in your wallet.”

“Above average price increases”

On an annual basis, prices of daily goods increased by 1.6 percent from November to November. This follows a 0.8 percent price drop compared to October. But in a press release, Comparis said a two-year comparison showed “above-average price increases” for food.

Comparis writes: “Products whose price increased by more than 10 percent included butter (plus 14.7 percent), sugar (plus 13.7 percent), fish and seafood (plus 11.3 percent), bread, flour and cereal products.” (plus 11.0 percent), milk, cheese, eggs (plus 10.8 percent) and margarine, edible fats and oils (plus 10.5 percent).

Inflation is still low compared to Europe

Compared to the same month last year, inflation in Switzerland is lower than in the euro area. Single-person households aged 65 and over experienced the highest inflation in the country in the last 12 months. You are currently feeling an inflation rate of 1.8 percent compared to the previous year. According to Eurostat, the statistical office of the European Union, prices in euro countries increased by 2.4 percent in this period.

Lowest income groups most affected

“From a purely mathematical perspective,” Comparis says, “by household type, the group least affected by inflation in percentage terms is childless couples under the age of 65. Households in the lowest income group will feel the impact of inflation the most.

The consumer price index converted into income for this class increased by 1.8 percent compared to the previous year. The middle and upper income groups were most affected by inflation.

Lowest inflation in Ticino

When looked at by language region, the following picture emerges: German-speaking Switzerland and Romansh-speaking Switzerland recorded the highest inflation, with an increase of 1.7 percent compared to the previous year. In November, the price level decreased by 0.8 percent compared to October.

Italian-speaking Switzerland had the lowest inflation compared to the previous year, at plus 1.5 percent. Life became cheaper by 0.8 percent in November compared to the previous month.

Source :Blick