The Swiss Consumer Price Index (CPI) went up by 2.8 percent in 2022. That is the highest value since 1992, when the inflation rate in Switzerland hit 3.4 percent. The rate is an average value which accounts for the prices of all goods and services tracked by the CPI. moneyland.ch took a closer look at the official evaluation published by the Swiss Federal Statistical Office (FSO).
The FSO divides the goods and services tracked by the CPI into twelve main groups. The highest inflation occurred in the household goods and services group (which includes furniture, tools, home appliances, detergents, and others), with prices increasing by 5.7 percent. It is followed by transport (5.3 percent inflation) and housing and energy (4.2 percent inflation). Groups of goods and services which became cheaper include communications (-3.3 percent) and healthcare (-0.4 percent).
Table: Inflation across groups of goods and services
| Group |
Inflation 2022 |
| Household goods and services |
5.7% |
| Transport |
5.3% |
| Housing and energy |
4.2% |
| Food and non-alcoholic beverages |
4.0% |
| Restaurants and hotels |
2.7% |
| Other goods and services |
2.4% |
| Clothing and footwear |
2.2% |
| Recreation and culture |
1.8% |
| Alcoholic beverages and tobacco |
1.7% |
| Education |
0.3% |
| Healthcare |
-0.4% |
| Communications |
-3.3% |
“The costs of energy and fuel are currently high, and that is why inflation is particularly apparent to consumers in the transport and the housing and energy categories,” says Ralf Beyeler from moneyland.ch.
“It is important to understand that the statistics are not based on individual products,” stresses Beyeler. The FSO calculates the average inflation for certain product categories.
The biggest price hikes of 2022
As the general statistics for the broad main groups and the current energy crises already hint at, energy products like wood pellets and gas saw the biggest price increases in 2022. The costs of both of these products shot up by nearly 70 percent in just one year.
Table: The ten categories of goods and services with the biggest price increases
| Product or service |
Inflation |
| Wood pellets |
69.7% |
| Gas |
68.5% |
| Heating oil |
37.8% |
| Airline fares |
33.8% |
| Margarine and cooking fat |
23.5% |
| Firewood |
20.0% |
| District heating |
16.9% |
| Cooking oil (excluding olive oil) |
16.8% |
| Travel packages |
16.0% |
| Diesel |
14.3% |
“Apart from energy prices, airline ticket prices have also increased substantially,” observes Beyeler. The reason: “The costs of kerosine make up a large portion of the ticket price. It is also possible that airlines are trying to raise their margins. After the difficult years of the coronavirus crisis, airlines are likely trying to earn more money again.”
Table: The ten goods and services with the smallest price increases
| Product or service |
Inflation |
| Personal transportation rentals (rental cars and car sharing) |
-23.8% |
| Landline communications |
-15.7% |
| Waste water charges |
-11.9% |
| Personal computers |
-10.7% |
| Laboratory analyses |
-9.9% |
| Onions and leeks |
-9.0% |
| Landline and mobile package deals |
-7.9% |
| Television sets |
-4.5% |
| Refrigerators and deep freezers |
-4.1% |
| Dried fruit and oilseeds |
-4.1% |
The costs of landline communications as per the CPI have been going down for years now. This trend continued over the past year. “One reason for this may be that a growing number of consumers no longer use landline connections at all. Those who do now generally pay less,” believes Beyeler.
Developments in food prices
Because groceries are among the most commonly purchased items, moneyland.ch also looked at the detailed food price figures:
- Staples
Price developments vary broadly between individual staples. The cost of breakfast cereals has gone up by 7.8 percent, sugar by 7.1 percent, bread rolls and pastries by 6.8 percent, noodles by 5.1 percent, and bread by 4.4 percent. The prices of flour and other grains have gone up by 2.5 percent.
- Fruit, vegetables, potatoes, and mushrooms
Prices in this category of groceries have gone up by 2.1 percent, on average. The average cost of fruit increased by 1.2 percent. Melons and grapes saw the highest inflation, with prices going up by 10 percent. Vegetables, mushrooms, and potatoes became 2 percent more expensive, on average. For numerous sub-categories of vegetables, price increases were only slightly above 0 percent. Leeks and onions became 9 percent cheaper. The category of fruit-like vegetables which includes things like cucumbers, tomatoes, marrows, and bell peppers is an exception to this rule, with prices increasing by 10 percent. Potatoes also became significantly more expensive, with the average price increasing by 6.4 percent.
- Cooking fat and cooking oil
These products became 10.6 percent more expensive, on average. Margarine and cooking fat experienced a huge price hike of 23.5 percent. The inflation rate for other cooking oils, excluding olive oil, was 16.8 percent, while the price of butter went up by 9.5 percent. By comparison, the 4.5-percent increase in the price of olive oil was relatively low.
- Milk, cheese, and eggs
Prices for milk, cheese, and eggs went up by 6.7 percent, on average. Inflation was particularly high with regards to eggs, which became 14 percent more expensive, and yoghurt, which became 7.9 percent more expensive. Cheese lovers have to pay 5.9 percent more. Whole milk became 5.1 percent more expensive, while the cost of skimmed milk went up by 4 percent.
- Meat and meat-based products
Meat and meat-based products became 2.5 percent more expensive, on average. The price of fresh pork decreased by 0.3 percent, while poultry experienced above-average price growth of 8 percent. Fresh fish also saw major inflation, with prices going up by 7.8 percent.
- Confectionary and snacks
Inflation was below average in the confectionary and snacks category. Confectionary prices increased by 1.4 percent, while chips and other snacks became 1.8 percent more expensive, and chocolate became 2.3 percent more expensive.
- Drinks
Non-alcoholic beverages saw 4 percent inflation. Natural mineral water experienced the biggest price climb, becoming 7.3 percent more expensive. It is followed by fruit and vegetable juices (4.3 percent) and coffee (4.1 percent). Tea, on the other hand, became 0.6 percent cheaper. Alcoholic drinks became 2.7 percent more expensive, on average. Prices increased by 4.5 percent for beer, 4 percent for sparkling wine, 3.7 percent for white wine, and 1.3 percent for red wine.
More on this topic:
How to save on groceries in Switzerland
How to buy groceries online in Switzerland
How could Swiss save on expenses?
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