Medienmitteilung

Swiss Consumer Price Index in December and annual inflation 2023 Average annual inflation of +2.1% in 2023

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Consumer prices increased by 0.3% in April

08.01.2024 - The consumer price index (CPI) remained unchanged in December 2023 compared with the previous month at 106.2 points (December 2020 = 100). Inflation was +1.7% compared with the same month of the previous year. The average annual inflation reached +2.1% in 2023. These are the results of the Federal Statistical Office (FSO).

Average annual inflation for 2023 corresponds to the rate of change between the annual average of the CPI for 2023 and that for 2022. The annual average is equal to the arithmetic mean of the 12 monthly indices of the calendar year. Average annual inflation was +2.1% in 2023. This increase was due in particular to higher prices for electricity, gas and for housing rentals. In contrast, prices for petroleum products, combined offers for fixed-line and mobile communication and medicines decreased. Prices for domestic products increased by +2.4% on average, those for imported products by +1.4%. Average annual inflation was +2.8% in 2022 and +0.6% in 2021.

The stability of the index compared with the previous month is the result of opposing trends that counterbalanced each other overall. Prices for hotels and supplementary accommodation increased, as well as those for public transport and air transport. In contrast, prices for motor fuels, heating oil, medicines and international package holidays decreased.

You can find further information in the following PDF document.