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COST OF LIVING

Pasta up by 13 percent: How food and energy prices in Switzerland are rising

Even though the inflation rate is lower in Switzerland than in the eurozone, costs of some common consumer goods and commodities have risen.

Published: 16 September 2022 17:32 CEST
Which Austrian chain is best to shop in?
Image by Alexa from Pixabay

Unlike neighbours France, Germany, Italy, and Austria, where the inflation rate hovers from over 6 to over 9 percent, Switzerland is doing much better on that score: its rate is currently about 3.5 percent.

What does this mean in terms of cost of living?

According to recent data from the Federal Statistical Office (OFS), which looks at which prices have increased the most, energy in general has registered the highest spike of all the consumer goods: 28 percent.

Within that category, fuel oil went up a whooping 86 percent, gas increased by 58 percent, petrol by 28 percent, and wood by 26 percent.

READ MORE: Swiss government confirms ‘sharp increase’ in electricity prices

As far as food is concerned, only four items registered a four-digit spike: pasta rose by 13 percent, cooking oil by 11 percent, and butter and coffee by 10 percent each.

Next are fish (9 percent); poultry, milk and yogurt (5 percent); bread and eggs (4 percent); and beef (3 percent).

Among non-foods, the price of toothpaste and other dental hygiene products rose by 12 percent, and clothing and shoes by 4 percent.

There is a bit of good news as well: the price of fresh vegetables dropped by 4.6 percent and that of shoes and clothing by 4 percent, according to FSO.

What’s ahead?

While energy prices will most likely remain high throughout the winter, the cost of other products depends on the evolution of inflationary trends. And there is no consensus on how that will turn out.

Claude Maurer chief economist at Credit Suisse predicted that Switzerland’s inflation rate will drop to 1.5 percent in 2023, and even as global economy  faces inflation-fuelled recession risks, “the situation remains positive for Switzerland”.

Another expert, however, Martin Eichler, chief economist of the economic research institute BAK Economics, said that “the next few months will be difficult” as Europe’s woes are expected to spill over to Switzerland as well.

“In many of Switzerland’s European trading partners, the toxic mix of energy shortages and massive gas and electricity price hikes are already having recessive effects”, Eichler said.

READ MORE: Cost of living: How you can beat Switzerland’s inflation blues?

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COST OF LIVING

The Swiss websites that can help you save money

You may think that ‘lower prices’ and ‘Switzerland’ should never be mentioned in the same sentence. But online resources can actually help you save on some purchases.

Published: 6 June 2024 13:53 CEST
The Swiss websites that can help you save money

True, getting ‘cheap’ stuff in one of the world’s most expensive countries is not a given. But it is not impossible either.

Depending on what you are looking to purchase, certain sites will either compare prices of goods available at various retailers, or show you where best deals are at the moment.

Let’s start with the most ‘essential’ purchase of all: food

There are no sites as such to tell you the current prices at all Swiss supermarkets, but you can do your research fairly easily.

Just look at websites of al major supermarkets — Migros, Coop, Aldi, Lidl, and Denner — and see which products are discounted on any given day or week.

The same applies to the two chains known to be on the more expensive side — Coop and Migros.

Their respective ‘budget’ lines, PrixGarantie and MBudget, are cheaper than their ‘regular’ assortment. 

And keep in mind too that sometimes best deals can be found in smaller grocery shops.

READ ALSO: Why it might be cheaper to avoid the big supermarkets in Switzerland 

Appliances, electronics, and sports equipment

To find the lowest prices in this category, two websites will be helpful: Preisergleich.ch and Toppreise.ch

According to Moneyland consumer platform, these two sites “compare the going prices at many major Swiss retailers. Comparisons primarily include online retailers, and retailers which have both online and offline stores.”

Insurance

Before you take out any policy, whether the obligatory health (KVG / LaMal) or car insurance, or supplemental plans, you can compare their prices versus what coverage they offer.

Though the cost the basic KVG / LaMal is the same for everyone in your canton, (based on your age and co-pay deductible you choose), complimentary policies are priced differently, depending on what services they cover.

You can compare them on Bonus.ch, or FinanceScout24

Internet and mobile plans

You can compare Internet plans which are available at your exact address, and the Internet speeds you can actually get, as well as mobile plans on Bonus.ch  and Dschungelkompass.ch

Hotels

If you are going on holiday or just away for a weekend, the price of a hotel room in Switzerland, especially in popular tourist destinations, can cost quite a lot.

While you may not necessarily find a really cheap room in a decent hotel (or location), these sites will let you see what’s available, where, and at what price:

Switzerland Tourism 
Ebookers.ch 

Overall, there are two Swiss sites that offer price comparison on almost all services in Switzerland.

They are Comparis and Moneyland.

And also…

If you sign up at rabattcorner.ch, you will get discounts thanks to cashback and vouchers in more than 798 online stores, including Manor and MediaMarkt. You can also benefit from travel discount on SWISS airline, and other travel, leisure, and gastronomy options.

READ ALSO: Six essential tips that will save you money in Switzerland

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