Swiss inflation rises due to air fares, rents and petrol

Prices rose last month due to air transport, package holidays, rents and petrol, the Federal Statistical Office said. © Keystone / Gaetan Bally

Consumer prices increased 3.4% in February from a year earlier, the Federal Statistical Office reported on Monday. This raises the possibility that the Swiss National Bank will raise interest rates this month.

This content was published on March 6, 2023

Consumer prices were up from 3.3% in January and well above the Swiss National Bank (SNB) target range for price stability, defined as between 0-2%.

Prices rose 0.7% month-on-month due to various factors, the FSO said.

“These include rising prices for air transport, package holidays and supplementary accommodation. Housing rentals also recorded a price increase, as did petrol,” it said.

+ How Switzerland is dealing with rising prices

The central bank is due to announce its policy decision on March 23, with the market seeing a 91% probability of a 50 basis point increase from the current level of 1%, especially following recent weakening of the Swiss franc, which has helped limit price rises from costlier imports.

+ The positives and negatives of Swiss interest rates

In compliance with the JTI standards

In compliance with the JTI standards

More: SWI certified by the Journalism Trust Initiative

Contributions under this article have been turned off. You can find an overview of ongoing debates with our journalists here. Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at

Change your password

Do you really want to delete your profile?

Your subscription could not be saved. Please try again.
Almost finished... We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.

Weekly top stories

Keep up to date with the best stories from SWI on a range of topics, straight into your mailbox.


The SBC Privacy Policy provides additional information on how your data is processed.