The inflation rate rose to 2.8 percent in 2022. This means that consumer goods are on average 2.8 percent more expensive than a year ago.
Oil products, gas and automobile prices and housing rents increased the most. Especially the Ukraine war has increased the prices. In 2021, inflation in Switzerland was still 0.6 percent.
The inflation rate in 2008 was at a comparable level. It was 2.4 percent at the time. Inflation higher than 2022 was last measured in 1993 – almost 30 years ago.
Switzerland holds its place in an international comparison
In international comparison, Switzerland is still doing relatively well. Annual inflation in Germany rose to 7.9 percent. This has never been higher since the founding of the Federal Republic.
In December 2022, inflation in Switzerland was 2.8 percent compared to the previous year. This means that there was no further deterioration in the inflation rate in the last month of the year. In November 2022 that was 3.0 percent. Above all, fuel and heating oil costs have fallen. But consumers also had to dig their pockets less for drugs in December than in November.