published
The war in Ukraine and the consequences of the pandemic are driving up prices. This is a headache for 85 percent of Swiss people.
In households with a monthly gross income of up to 4,000 francs, inflation has a major to very major impact on their consumer behavior for 58 percent.
20 minutes/Michael Scherrer
“For people on low incomes, on the other hand, additional costs of CHF 100 to 200 per month have an immediate impact,” says Comparis finance expert Michael Kuhn.
20 minutes/Michael Scherrer
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The war in Ukraine and the consequences of the corona pandemic have led to inflation in Switzerland.
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“Everyday necessities have become more expensive,” says Comparis finance expert Michael Kuhn.
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For almost 40 percent of the people surveyed, the rising prices are having a direct impact on their spending and investment behavior.
According to the Federal Statistical Office, inflation rose to 2.4 percent in March, the highest level since autumn 2008. Rising prices due to the war in Ukraine and the consequences of the corona pandemic are causing headaches for the Swiss population. According to a representative survey by online comparison portal Comparis 85 percent of respondents worry regarding inflation.
“Although inflation in Switzerland is still moderate compared to other countries, the prices of petroleum products, for example, have risen massively. But everyday goods have also become more expensive,” says Comparis finance expert Michael Kuhn. 13 percent of those surveyed are not at all worried regarding inflation.
For almost 40 percent of the people surveyed, the concerns have a direct impact on their spending and investment behavior. According to Comparis, inflation has a very large influence on six percent and 30 percent have a major influence on their consumer and financial decisions. 53 percent of the Swiss population assess the influence as low, for eleven percent they have no influence at all.
People on low incomes are particularly affected
In households with a monthly gross income of up to 4,000 francs, inflation has a major to very major impact on their consumer behavior for 58 percent. In households with a monthly gross income of 4,000 to 8,000 francs (38 percent) and over 8,000 francs (21 percent), this proportion is significantly lower.
The same picture emerges when it comes to education: 40 percent of Swiss people with a low to medium level of education are affected by inflation. For people with a high level of education, this proportion is 33 percent.
«Well-trained people often have above-average salaries and do not have to cut back financially, if at all, because of rising prices. For people on low incomes, on the other hand, additional costs of CHF 100 to 200 per month have an immediate impact,” continues Kuhn.
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