Two-thirds of residents in Switzerland, one of the wealthiest countries in the world, say they have been feeling the impact of rising inflation over the past two years, a poll by the Deloitte consultancy reveals. Life has become “very difficult” for over a quarter of those surveyed.
This content was published on
3 minutes
Keystone-SDA
Português
pt
Dois terços dos suíços sentem pressões do aumento da inflação
Inflation is exerting a significant impact on consumer behaviour in Switzerland, the report said. People are cutting back on non-essential spending and making savings, the authors of the “Pulse of Switzerland” survey conclude.
They found that over half (52%) of those questioned spent less on restaurants or nights out in the past 12 months. And 40% said they had cut back on buying clothing, holidays, travel and leisure activities. More than a third (34%) had cut back on how much they spent on food.
In all, 57% had reduced spending on non-essential items. Fewer people made savings on education (10%), public transport (14%) or telecommunications (16%).
Customers are more willing to shop around, the authors say. Special offers and promotions have become more important for 51% of those questioned. Many also seek out cheaper products (44%) or have switched to cheaper suppliers (37%).
But only a small minority of respondents are opting for second-hand goods, making things themselves or borrowing due to higher prices. Deloitte therefore believes that there has not yet been any fundamental changes in consumer behaviour.
In the survey, 27% of respondents across Switzerland said inflation had made life “very difficult” over the past 12 months.
Western Switzerland seems to be particularly hard hit, with 33% saying inflation made life “very difficult” and 40% “fairly difficult”. Across the country as a whole, almost two-thirds (65%) say inflation is making life difficult, rising to almost three-quarters (73%) in French-speaking Switzerland.
More
Debate
Hosted by:
Igor Petrov
Do you have money-saving tips to deal with the rising cost of living?
What is the situation in your country of residence? Are costs of living rising, and what are you doing to save money?
Rising rents and health insurance premiums are also a cause for concern. But savings are hard to make in both cases.
The survey shows that public opinion is roughly split on what to do. One half of the population wants long-term, sustainable solutions to rising inflation, while the other wants short-term action.
In Switzerland, prices are currently 6% higher on average than they were at the start of 2021. A total of 1,900 people living in the Alpine country took part in the Deloitte survey in November 2023.
External Content
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.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
Living longer: What do you think about the longevity trend?
The longevity market is booming thanks in part to advances in the science of ageing. What do you think of the idea of significantly extending human lifespan?
Spar Switzerland put up for sale by South African owner
This content was published on
Talks with potential buyers of the 360-plus Spar stores in Switzerland are underway, but it’s not clear who’s in the running.
Further villages in Swiss landslide area avoid damage for now
This content was published on
Due to the build-up of a lake behind the debris in Blatten, canton Valais, parts of neighbouring villages have been evacuated as a precaution.
Glacier collapses burying large parts of Swiss village Blatten
This content was published on
A gigantic avalanche of ice, mud and debris has buried a large part of the village of Blatten after a major glacier collapsed.
Swiss government seeks better labour integration of Ukrainian refugees
This content was published on
The Swiss government has now set a goal of 50% of Ukrainian refugees to be in employment by the end of 2025, compared with 38% at present.
Swiss government greenlights Ruag sale of Leopard tanks to Germany
This content was published on
The defence company Ruag MRO is allowed to sell 71 Leopard 1 battle tanks to Germany. However, the tanks may not be sold to Ukraine.
Foie gras sold in Switzerland must declare painful production process
This content was published on
Starting July 1, the sale of foie gras in Switzerland must make reference to the painful procedures performed on the animal.
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 english@swissinfo.ch.