“Perceived inflation” in Switzerland fell in November
Published: Tuesday, Dec 19th 2023, 08:00
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Inflation in the area of everyday goods in Switzerland fell significantly in November. However, so-called "perceived inflation" remains slightly higher than official inflation.
According to the Comparis consumer price index published on Tuesday, which tracks price trends for regularly consumed goods, prices for everyday Swiss goods rose by 1.6% in November compared to the same month last year. In the previous month, "perceived inflation" was still at 2.2 percent.
Meanwhile, official Swiss inflation, as measured by the Federal Statistical Office's (FSO) national consumer price index, came in at 1.4 percent in the month under review, down from 1.7 percent.
According to Comparis, prices for everyday goods fell by 0.8% in November on a monthly basis. Food prices, for example, have become cheaper. However, this does not change the fact that consumers felt the price increases for food particularly strongly in a longer-term comparison, according to the communiqué.
The Comparis Consumer Price Index, in collaboration with the KOF Swiss Economic Institute at the Swiss Federal Institute of Technology (ETH), claims to reflect perceived inflation by adjusting the National Consumer Price Index (CPI) data for rents and durable goods such as cars and furniture. The CPI measures price changes using a representative basket of around 1050 goods and services.
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