Inflation Switzerland 2004
Average inflation: 0.8%
Current Inflation
Inflation is very low at 0.8%, well below the ECB target.
Peak and Trough
The highest inflation was in November at 1.5%. The lowest inflation was in March at -0.1%.
- Highest month
- November: 1.5%
- Lowest month
- March: -0.1%
- Difference
- 1.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 3.5%. The lowest price increase was in Clothing and footwear with an average of -2.7%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 3.5%
- Lowest increase
- Clothing and footwear: -2.7%
Historical Context
Current inflation is around the 5-year average of 0.9%.
- 5-year average
- 0.9%
- 10-year average
- 0.9%
- All-time high (2000)
- 1.6%
- All-time low (2003)
- 0.6%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+0.2 percentage point).
- Change vs. previous year
- +0.2 percentage points
- Largest monthly swing
- March: -1.4 percentage points
ECB Target
Inflation is 1.2% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €100.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 0.2% | -0.6 |
| February | 0.1% | -0.8 |
| March | -0.1% | -1.4 |
| April | 0.5% | -0.2 |
| May | 0.9% | +0.5 |
| June | 1.1% | +0.6 |
| July | 0.9% | +0.6 |
| August | 1.0% | +0.5 |
| September | 0.9% | +0.4 |
| October | 1.3% | +0.8 |
| November | 1.5% | +1.0 |
| December | 1.3% | +0.7 |
| Average | 0.8% |
Data source
Data from OECD. Last updated: 11/01/2026.