Swiss housing on the lake with mountains in switzerland

Switzerland Inflation

Switzerland Inflation

Inflation in Switzerland

Consumer price inflation averaged 0.3% in the ten years to 2022 in Switzerland. The 2022 average figure was 2.8%. For more inflation information, visit our dedicated page.

Switzerland Inflation Chart

Note: This chart displays Inflation Rate (CPI, annual variation in %) for Switzerland from 2014 to 2023.
Source: Macrobond.

Switzerland Inflation Data

2019 2020 2021 2022 2023
Inflation (CPI, ann. var. %, aop) 0.4 -0.7 0.6 2.8 2.1
Inflation (CPI, ann. var. %, eop) 0.2 -0.8 1.5 2.8 1.7

Inflation declines to lowest level since March in June

Inflation came in at 1.3% in June, which was down from May’s 1.4%. June's figure marked the lowest inflation rate since March. The result was primarily due to slower growth in prices for housing and energy and lower prices for food and non-alcoholic beverages. Inflation remained mild compared to neighbors—Euro area inflation clocked 2.5% in June—thanks to Switzerland’s ingrained low inflation expectations and mild wage growth. Annual average inflation edged down to 1.4% in June (May: 1.5%). Finally, consumer prices were flat over the previous month in June, which was below the 0.27% increase seen in May. June's result marked the weakest reading since November 2023.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Swiss inflation projections for the next ten years from a panel of 35 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Swiss inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Swiss inflation projections.

Want to get access to the full dataset of Swiss inflation forecasts? Send an email to

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