Federal Statistical Office: Inflation climbs to 3.4 percent in June


Inflation continues to rise in Switzerland. Compared to the corresponding month of the previous year, inflation was 3.4 percent.

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Fill up at the gas station while the prices are getting higher.

20min / Taddeo Cerletti

The national index of consumer prices (LIK) rose by 0.5 percent in June 2022 compared to the previous month, as the Federal Statistical Office writes in a press release. Compared to the corresponding month of the previous year, inflation was 3.4 percent. The forecasts of economists, who had expected inflation of 2.8 to 3.5 percent, were almost exceeded.

The increase is due to various factors, including higher fuel prices. The prices for heating oil and fruit vegetables have also risen. The prices for red wines, on the other hand, have fallen, as have those for salads. The import of goods also has a significant impact on inflation – these are around 8.5 percent more expensive than a year ago. For domestic goods, the Federal Statistical Office recorded inflation of 1.7 percent last year,

Despite the significant increase in recent months, inflation in Switzerland is still relatively low by comparison. At 8.6 percent, inflation in the euro zone was higher than it had been since the introduction of the common currency in 1999. In the USA, too, where the inflation rate is currently 8.6 percent, inflation was last as high as in 1981 the “Tages-Anzeiger” reports.

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