Perceived inflation measured: Rental prices of holiday apartments in Switzerland are booming

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Anyone needing holiday accommodation in Switzerland spent significantly more in December 2023 than in the same month the previous year. Hotel prices increased by 2.5 percent, while the para-hotel sector (i.e. holiday apartments) increased by 22.4 percent. “The prices of holiday apartments literally exploded in December,” says Dirk Renkert, finance expert from Comparis. The comparison portal regularly publishes its own perceived inflation index, collected in cooperation with the Economic Stimulus Office at ETH Zurich.

Although sharp increases were observed last December, prices rose by a whopping 11 percent compared to the previous year, as demand for holiday apartments was significantly higher than the available supply despite rising prices, according to Comparis. Prices of holiday apartments are subject to strong seasonal fluctuations. “Consumers seem willing to accept higher prices,” Renkert says.

Things got cheaper here

In addition to rising prices in the non-hotel sector, consumers are also having to pay more for air transportation; prices increased by 6.4 percent in December. Other services such as private transportation (plus 5.3 percent), jam and honey (plus 4.7 percent) and margarine, edible fats and oils (plus 3.9 percent) are also among the top 5 most expensive products.

The following things got cheaper in December: package holidays, sparkling wines, coffee and fuel. Renkert says that from a purely mathematical perspective, childless couples under the age of 65 are the group that feels the effects of inflation the least, according to household type. (euro)

Source :Blick