1.1 percent Inflation in Switzerland to fall significantly in 2024
In 2024, inflation in Switzerland Inflation in Switzerland fell significantly last year. It was still at 1.1 percent - after 2.1 percent in 2023.
07.01.2025, 09:06
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- Prices in Switzerland rose less sharply in 2024 than in 2023.
- Inflation amounted to 1.1 percent in the previous year.
Annual inflation in Switzerland fell slightly in December. It even fell significantly on average in 2024.
Specifically, inflation amounted to 0.6 percent in December after 0.7 percent in November, as reported by the Federal Statistical Office (FSO) on Tuesday. This means that Swiss consumer goods were on average 0.6% more expensive in December than in the same month last year. Domestic goods are still significantly more expensive than a year ago (+1.5%), while imported goods (-2.2%) are still clearly cheaper than a year ago.
Overall, prices have fallen slightly compared to the previous month. The so-called national consumer price index (CPI) fell by 0.1% to 106.9 points. According to the FSO, this decline is due to various factors, including lower prices for package tours abroad, medicines and various types of vegetables. In contrast, prices in the para-hotel and hotel sectors rose.
Clear decline in the annual average
The annual average inflation rate in 2024 was 1.1%, with a high of 1.4% (April, May) and a low of 0.6% (October, December). Compared to the two previous years, inflation has therefore fallen significantly. In 2023, the figure was 2.1% and in 2022 even 2.8%. In contrast, there were deflationary trends in 2020 with a value of -0.7 percent.