Economy "Perceived inflation" below official inflation in October
Everyday goods hardly became more expensive in Switzerland in October. The so-called "perceived inflation" was thus below the official inflation rate.
According to the Comparis consumer price index published on Tuesday, prices for selected everyday goods in Switzerland rose by just 0.1% in October compared to the same month last year. This means that, on average, they rose less strongly than prices according to the official national consumer price index (CPI) of the Federal Statistical Office (FSO). This rose by 0.6 percent.
Compared to the previous month of September, prices actually fell by 0.3%. The CPI had only fallen by 0.1% in September.
Sharp rise in electricity prices, heating becomes cheaper
According to Comparis, electricity recorded the strongest price increase in October with a rise of 17.8% compared to the same month last year. This was followed by prices for sugar (+10.4%) and postal services (+8.8%). Margarine, cooking fats and oils (+7.9%) and fruit and vegetable juices (+6.3%) also became more expensive.
On the other hand, prices for energy for heating, i.e. gas, heating oil, firewood and district heating, fell by 14.1% year-on-year just in time for the start of the heating season. However, the comparison is somewhat misleading, as prices have risen massively over the past three years since the start of the war in Ukraine, namely by an average of 24%.
Gas, firewood and district heating in particular have risen sharply in a three-year comparison, while heating oil costs 0.6% less than three years ago. The development of gas prices in particular (+48.5%) shows the dangers of excessive dependence on individual suppliers.
In addition to heating energy prices, fuel prices also fell - they were 9.4% lower than in the previous year.
The Comparis Consumer Price Index, in collaboration with the KOF Swiss Economic Institute at the Swiss Federal Institute of Technology (ETH), says it reflects perceived inflation by adjusting the data from the national consumer price index (CPI) for rents and durable goods such as cars and furniture. The CPI measures price changes using a representative basket of around 1,050 goods and services.
SDA
