Swiss Consumer Price Index fell by 0.3% in November 2018

The consumer price index (CPI) fell by 0.3 % in November 2018 compared with the previous month, reaching 101.8 points (December 2015 = 100). Inflation was 0.9 % compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).

The 0.3 % drop compared with the previous month can be explained by several factors including falling prices for international package holidays and overnight stays in hotels. In contrast, prices rose for diesel and bedroom furniture.

Harmonised Index of Consumer Prices (HICP)

In November 2018, the Swiss Harmonised Index of Consumer Prices (HICP) stood at 101.24 points (base 2015 = 100). This corresponds to a rate of change of –0.4% compared with the previous month and of +1.0% 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 results are published by the European Statistical Office, Eurostat, according to a predefined calendar. The FSO publishes a comparison between inflation in Switzerland and Europe on the webpage A methodological notice, the 2018 weighting of the Swiss standard HICP basket and the FSO News publication on the HICP are also available on this page. The HICP indices for other European countries for November 2018 will be published by Eurostat on 17 December 2018. You will find the HICP results on the Eurostat website at the following address: