Consumer prices in Switzerland fell 0.8 percent year-on-year in December of 2020, more than market forecasts of a 0.7 percent drop. It is the 11th consecutive month of deflation, bringing average annual inflation in 2020 to -0.7 percent compared to 0.4 percent in 2019. During the year, prices decreased mainly for international package holidays, petroleum products and air transport. On a monthly basis, consumer prices were down 0.1 percent, compared to forecasts of a flat reading, and weighed down by several factors including falling prices for international package holidays. Medicines also recorded a price decrease, as did fruiting vegetables. In contrast, prices for heating oil and air transport increased. source: Swiss Federal Statistical Office

Inflation Rate in Switzerland averaged 2.32 percent from 1956 until 2020, reaching an all time high of 11.92 percent in December of 1973 and a record low of -1.40 percent in August of 2015. This page provides - Switzerland Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Switzerland Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Inflation Rate in Switzerland is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Switzerland to stand at 0.20 in 12 months time. In the long-term, the Switzerland Inflation Rate is projected to trend around 0.50 percent in 2022, according to our econometric models.

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Switzerland Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.80 -0.70 11.92 -1.40 1956 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-01 06:30 AM Sep -0.8% -0.9% -0.8% -0.9%
2020-11-03 07:30 AM Oct -0.6% -0.8% -0.6% -0.7%
2020-12-02 07:30 AM Nov -0.7% -0.6% -0.5% -0.6%
2021-01-05 07:30 AM Dec -0.8% -0.7% -0.7% -0.7%
2021-02-12 07:30 AM Jan -0.8% -0.9%
2021-03-03 07:30 AM Feb
2021-04-01 06:30 AM Mar
2021-05-05 06:30 AM Apr


News Stream
Switzerland in Deflation Territory for 11th Month
Consumer prices in Switzerland fell 0.8 percent year-on-year in December of 2020, more than market forecasts of a 0.7 percent drop. It is the 11th consecutive month of deflation, bringing average annual inflation in 2020 to -0.7 percent compared to 0.4 percent in 2019. During the year, prices decreased mainly for international package holidays, petroleum products and air transport. On a monthly basis, consumer prices were down 0.1 percent, compared to forecasts of a flat reading, and weighed down by several factors including falling prices for international package holidays. Medicines also recorded a price decrease, as did fruiting vegetables. In contrast, prices for heating oil and air transport increased.
2021-01-05
Swiss Deflation Deepens
Consumer prices in Switzerland fell 0.7 percent year-on-year in November of 2020, extending deflation for a 10th month. Figures compare with market forecasts of a 0.5 percent drop. Biggest downward impact came from prices of housing and energy (-0.7 percent); healthcare (-0.6 percent); and transport (-3.2 percent). In contrast, main upward pressure came from cost of food and non-alcoholic beverages (0.4 percent) and restaurants and hotels (0.5 percent). On a monthly basis, consumer prices went down 0.2 percent, mainly due to falling prices for international package holidays. Hotel accommodation also recorded a price decrease, as did fruiting vegetables. In contrast, prices for housing rentals and foreign red wine increased.
2020-12-02
Switzerland Deflation Extends for 9th Month
Consumer prices in Switzerland fell 0.6 percent year-on-year in October of 2020, extending the deflation for the 9th month but booking the smallest decline since March. Figures came in line with market expectations. Biggest declines were seen in cost of transport (-3.6 percent), recreation and culture (-1.6 percent), healthcare (-0.6 percent) and housing and energy (-0.4 percent). In contrast, main increases were recorded for restaurants and hotels (0.9 percent), food (0.8 percent), alcoholic beverages (0.8 percent) and education (0.8 percent). On a monthly basis, consumer prices were flat, the same as in the previous month. Prices for clothing and footwear increased, as well as those for glasses and contact lenses. In contrast, prices for combined offers for fixed-line and mobile communication, as well as those for other fruits (melons and grapes) decreased.
2020-11-03
Swiss Consumer Prices Drop the Least in 6 Months
Switzerland's consumer prices declined 0.8 percent from a year earlier in September 2020, the least since March and in line with market expectations. There were decreases in cost for housing & utilities (-0.5 percent vs -0.4 percent in August), health (-0.8 percent, the same pace as in August), transport (-3.7 percent vs -4.2 percent), recreation & culture (-2.4 percent vs -2.9 percent). Meanwhile, prices rose for food & non-alcoholic beverages (0.5 percent vs 0.2 percent), restaurants & hotels (0.3 percent vs 0.5 percent) and clothing & footwear rebounded (0.4 percent vs -0.3 percent). Core consumer prices, which strip out volatile price components like fresh and seasonal products, energy and fuels dropped 0.3 percent, also the least since March. On a monthly basis, consumer prices were flat in September, matching market consensus.
2020-10-01

Switzerland Inflation Rate
In Switzerland, the most important categories in the consumer price index are: Housing and energy (25 percent of the total weight) and Healthcare (16 percent). Transport accounts for 11 percent; Food and non-alcoholic beverages for 11 percent; Restaurants and hotels for 9 percent; and Recreation and culture for 8 percent. The index also includes: Miscellaneous goods and services (6 percent); Household goods and services (4 percent); Clothing and footwear (3 percent). Communication, Alcoholic Beverages and Tobacco and Education account for the remaining 7 percent of total weight.