Above-average price increases for housing and mobility in February
Published: Wednesday, Mar 27th 2024, 01:50
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The cost of housing and cars rose faster than official inflation last month. This is shown by a new price index launched by the comparison portal Comparis.
According to the "Womo Price Index", prices for housing and mobility in Switzerland were 1.6% more expensive in February 2024 compared to the previous year, as Comparis reported on Wednesday. In contrast, the national consumer price index, which covers a representative basket of over 1,000 goods and services, rose by just 1.2% in February.
According to the press release, housing and mobility account for around 40 percent of the daily consumption budget of an average family in Switzerland. Price changes are therefore "particularly painful" here. Because most tenancies are based on the federal government's recently increased mortgage reference interest rate, many tenants have already received a rent increase.
Comparis compiles the new quarterly Womo price index in cooperation with the KOF Swiss Economic Institute at ETH Zurich. In the
In the housing sector, the index takes into account the development of rents and the prices of electricity and furniture, for example. In the mobility sector, it includes the price of petrol or diesel, car or public transport tickets.
Comparis also continues to calculate and publish the Comparis Consumer Price Index together with the KOF, which measures "perceived inflation" for everyday goods. This excludes "sluggish" consumption items such as rents or durable goods.
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