close

Average Swiss family to pay 4.000 francs more a year due to inflation

Average Swiss family to pay 4.000 francs more a year due to inflation

The average Swiss family will have to pay 4.000 Swiss francs more a year due to rising inflation, a report by the newspaper Blick has claimed. According to the piece, residents of Switzerland are set to see their rent, utility costs, grocery bills and healthcare costs surge in the coming months. 

Swiss families to feel the pinch of rising inflation

According to Blick’s report, an average-income Swiss family with two children will feel the pinch of rising rent, grocery, healthcare and utility bills in the coming year. While those receiving social security payments like unemployment benefits are accustomed to carefully budgeting their income, the paper claimed that rising inflation means that Switzerland’s middle class may also need to start cutting back. 

In one year, the paper found that the price of oil in Switzerland has increased by 86 percent, while gas has jumped by 58 percent. At home, the cost of renting has increased by around 7 percent, and for homeowners, the price of electricity has gone up by 27 percent. Electricity prices are also expected to rise further as the cold weather rolls in and demand for energy increases. 

Switzerland remains less impacted by inflation than its neighbours

At the moment, inflation in Switzerland stands at 3,5 percent, according to Switzerland’s Federal Statistical Office. While this may be low compared to the rest of Europe, it is unusually high for Switzerland, with many fearing that the rising prices will mean that workers will be put under renewed pressure. 

Along with inflation, the Swiss government is also set to tackle the rising cost of healthcare in Switzerland. As the cost of health insurance in Switzerland is set to rise sharply, the government is expected to announce more plans to combat the price rises, to ensure that people in Switzerland can still afford access to hospitals, doctors and other forms of healthcare. 

Emily Proctor

Author

Emily Proctor

Emily studied International Relations and Chinese, and is now undertaking Master's degree in International Security. She enjoys writing, cooking, and playing piano.

Read more

JOIN THE CONVERSATION (0)

COMMENTS

Leave a comment