Inflation Switzerland 2022
Average inflation: 2.8%
Current Inflation
Inflation is normal at 2.8%, around the ECB target.
Peak and Trough
The highest inflation was in August at 3.5%. The lowest inflation was in January at 1.6%.
- Highest month
- August: 3.5%
- Lowest month
- January: 1.6%
- Difference
- 1.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 8.9%. The lowest price increase was in Communication with an average of -0.6%.
- Highest increase
- Transport: 8.9%
- Lowest increase
- Communication: -0.6%
Historical Context
Current inflation is 2.0% higher than the 5-year average of 0.8%. This approaches the highest level since records began (2.8% in 2022).
- 5-year average
- 0.8%
- 10-year average
- 0.3%
- All-time high (2022)
- 2.8%
- All-time low (2015)
- -1.1%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +2.2 percentage point.
- Change vs. previous year
- +2.2 percentage points
- Largest monthly swing
- June: +2.8 percentage points
ECB Target
Inflation is 0.8% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 1.6% | +2.1 |
| February | 2.2% | +2.7 |
| March | 2.4% | +2.6 |
| April | 2.5% | +2.2 |
| May | 2.9% | +2.3 |
| June | 3.4% | +2.8 |
| July | 3.4% | +2.7 |
| August | 3.5% | +2.6 |
| September | 3.3% | +2.4 |
| October | 3.0% | +1.8 |
| November | 3.0% | +1.5 |
| December | 2.8% | +1.3 |
| Average | 2.8% |
Data source
Data from OECD. Last updated: 11/01/2026.