Inflation Switzerland 2024
Average inflation: 1.1%
Current Inflation
Inflation is low at 1.1%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in April at 1.4%. The lowest inflation was in October at 0.6%.
- Highest month
- April: 1.4%
- Lowest month
- October: 0.6%
- Difference
- 0.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 3.4%. The lowest price increase was in Furnishings, household equipment and maintenance with an average of -1.6%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 3.4%
- Lowest increase
- Furnishings, household equipment and maintenance: -1.6%
Historical Context
Current inflation is around the 5-year average of 1.2%.
- 5-year average
- 1.2%
- 10-year average
- 0.6%
- All-time high (2022)
- 2.8%
- All-time low (2015)
- -1.1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +1.0 percentage point.
- Change vs. previous year
- -1.0 percentage points
- Largest monthly swing
- February: -2.2 percentage points
ECB Target
Inflation is 0.9% 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 €101.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.3% | -2.0 |
| February | 1.2% | -2.2 |
| March | 1.0% | -1.9 |
| April | 1.4% | -1.2 |
| May | 1.4% | -0.8 |
| June | 1.3% | -0.4 |
| July | 1.3% | -0.3 |
| August | 1.1% | -0.5 |
| September | 0.8% | -0.9 |
| October | 0.6% | -1.1 |
| November | 0.7% | -0.7 |
| December | 0.6% | -1.1 |
| Average | 1.1% |
Data source
Data from OECD. Last updated: 13/01/2026.