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Swiss pay highest prices in Europe

Swiss shoppers pay well above the European average for most products

(Keystone)

New statistics show that prices in Switzerland are higher than anywhere else in western Europe, including Norway, Denmark and Sweden.

The figures, released on Thursday, show that the overall cost of goods in Switzerland is 28 per cent higher than the European Union average.

The report, published by the EU and the Organisation for Economic Cooperation and Development (OECD), is based on comparative economic indicators.

Compared to its neighbours, Switzerland is 20-38 points above the EU average of 100 points.

A detailed economic index shows that the prices of some products, in particular, are a lot higher in Switzerland. Meat products ranked 69 per cent above the EU average while cooking oil is 70 per cent higher.

The cost of rent, health services and public transport, including taxis, came out at 43-78 per cent higher than elsewhere in Europe.

On a positive note, the figures show that some items are cheaper in Switzerland. Alcohol-free drinks, tobacco, clothing, heating and furniture are all up to 11 per cent less expensive.

The report's productivity index shows that Switzerland is one of the most economically productive countries in the world.

The Swiss economy ranked number three behind Luxembourg and Norway, in 1997, the latest year for which figures are available.

swissinfo with agencies


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