The Swiss Times - Swiss News in English

Bank Fees Rose Sharply in August

Financial services have become 6.8% more expensive in August compared to the previous month. This is a decrease compared to July, as shown by the Comparis Consumer Price Index. Bank fees were the most affected, with prices increasing despite the rise in interest rates. In general, prices for everyday Swiss goods decreased by 0.5% in August compared to the previous month. The official Swiss inflation, measured by the Federal Statistical Office's Consumer Price Index, also increased significantly. Single-person households over 65 experienced the highest inflation rate of 2.0% compared to the previous year. This group was most affected by the inflation, with consumer prices 1.8% higher than in the previous month. The middle to high income group was least affected, with an inflation rate of 1.5%. The Comparis Consumer Price Index, in collaboration with the KOF Research Institute of ETH, measures the perceived inflation by adjusting the data of the Consumer Price Index (LIK) for rents and durable goods such as cars and furniture. The LIK measures price changes based on a representative basket of around 1050 goods and services.nnnnnnnnnnnnnnnnnnnnnnnnnn

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