Tue, May 16th 2023
Switzerland has avoided much of the inflation that has recently impacted Europe and the rest of the world.
Swiss inflation peaked at a 29-year high of 3.5% in August 2022. While high by Swiss standards, it is well below the inflation levels of other advanced economies, like the U.S. (9.1%), the U.K. (11.1%), and the Euro zone (10.6%).
This can be attributed to multiple factors, including:
The Swiss National Bank raised its policy interest rate to 1.5% in March, expecting to achieve its targeted inflation level of 2% by 2024. The Swiss economy (GDP) grew by 2.1% in 2022 (flat in Q4) , and is expected to avoid a recession by growing 1.1% in 2023, and 1.5% in 2024.
Private consumption should see modest growth over the coming quarters, bolstered by a solid labor market and nominal wage increases.
This article may be freely shared and re-printed, provided that it prominently links back to the original article.
English 
German 
French 
Spanish 
Arabic