Swiss Consumer Prices increased in February 2023 by 0.7 %

Consumer prices increased by 0.7% in February

The consumer price index (CPI) increased by 0.7 % in February 2023 compared with the previous month, reaching 105.8 points (December 2020 = 100). Inflation was +3.4 % compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).
The 0.7% increase compared with the previous month is due to several factors including rising prices for air transport, package holidays and supplementary accommodation. Housing rentals also recorded a price increase, as did petrol. In contrast, prices for heating oil decreased as well as those for new cars and berries.

Harmonised Index of Consumer Prices (HICP)

In February 2023, the Swiss Harmonised Index of Consumer Prices (HICP) stood at 105.54 points (base 2015 = 100). This corresponds to a rate of change of +0.5 % compared with the previous month and of +3.2 % compared with the same month the previous year.

The HICP is a supplementary indicator for inflation based on a harmonised method across EU member countries. It enables inflation in Switzerland to be compared with that of European countries.

The European Statistical Office, Eurostat, publishes the results according to a predefined calendar. The FSO publishes a comparison between inflation in Switzerland and Europe on the webpage http://www.ipch.bfs.admin.ch. A methodological note and the 2022 weighting of the Swiss standard HICP basket are also available on this page.
Eurostat will publish the HICP indices for other European countries for February 2023 on 17 March 2023. You will find the HICP results on the Eurostat website at the following address: http://www.//ec.europa.eu/eurostat/web/hicp