The annual average is even higher: Inflation rose to 1.7 percent in December

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Bad news for consumers: Inflation in Switzerland rose to 1.7 percent in December, according to the Federal Statistical Office (FSO) statement on Monday morning. However, the target of the Swiss National Bank (SNB) remains within the range of 0 to 2 percent. Average annual inflation in 2023 was 2.1 percent.

This means that Swiss consumer goods were 1.7 percent more expensive in December than in the same month of the previous year. Economists surveyed by AWP had predicted annual inflation values ​​would be slightly lower, between 1.4 and 1.6 percent.

Inflation was at 1.4 percent in November. The rate, which had been above 3 percent for months before, fell below 2 percent for the first time since January 2022 in June 2023.

Rent, electricity and natural gas included

After the beginning of the year, the statistical office also calculates the average annual tax data. It was 2.1 percent last year, 2023. Average inflation was 2.8 percent in 2022 and 0.6 percent in 2021.

According to BFS, the increase is mainly due to high electricity and gas prices, as well as high apartment rents. In response, prices of petroleum products, some telecommunications products and medicines fell.

Inflation in this country remained relatively moderate at 2.1 percent in 2023. For example, in Germany, the annual average in 2023 was 5.9 percent. (SDA/sfa)

Source :Blick