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Swiss Consumer Price Index in December and annual inflation 2022 Average annual inflation of +2.8% in 2022

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Consumer prices increased by 0.7% in February

04.01.2023 - The consumer price index (CPI) fell by 0.2% in December 2022 compared with the previous month, reaching 104.4 points (December 2020 = 100). Inflation was +2.8% compared with the same month of the previous year. The average annual inflation also reached +2.8% in 2022. These are the results of the Federal Statistical Office (FSO).

Average annual inflation for 2022 corresponds to the rate of change between the annual average of the CPI for 2022 and that for 2021. The annual average is equal to the arithmetic mean of the 12 monthly indices of the calendar year. The average annual inflation was +2.8% in 2022. This increase is due in particular to higher prices for petroleum products, gas, cars and for housing rentals. In contrast, prices for combined offers for fixed-line and mobile communication and medicines decreased. Prices for domestic products increased by 1.6% on average, those for imported products increased by 6.7%. Average annual inflation was +0.6% in 2021 and -0.7% in 2020. 

The CPI decrease of 0.2% in December 2022 compared with the previous month is due to several 
factors including falling prices for fuels and heating oil. The prices for fruiting vegetables also declined, along with the prices for medicines. In contrast, rents for holiday flats and the hire of private means of transport increased.

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Average annual inflation of +2.8% in 2022
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