More inflation in January in Switzerland
On February 11, 2022, the Federal Statistical Office (FSO) published the inflation figures for January 2022. Over the month, prices increased by 0.2%, which corresponds to an annual price increase of 1.6%.
Compared to many other nations, annual inflation is low at 1.6%. The most recent annual value up to the end of January 2022 in the USA is reported as 7.5% financial times. This is the highest US inflation in 40 years. The last time US inflation was this high was in 1982. In January 2022, US inflation was 0.6%, three times the monthly rate recorded in Switzerland.
The January inflation in Switzerland was mainly due to rising gas prices, higher hotel prices and higher used car prices, the BFS said. On the other hand, rental car prices fell and January sales led to price declines in clothing and shoes.
The annual inflation rate in Switzerland of 1.6% is comparatively low in international comparison, but quite high for Switzerland. The last time annual inflation exceeded this level was in 2008 when it reached 2.9% and before that in 2000 when it reached 1.9%.
In addition, Switzerland has regularly experienced negative phases of inflation (deflation) since 2008, the highest in 2015 (-1.4%). Swiss inflation data since 1924 can be viewed here.
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