07.01.2025 - The consumer price index (CPI) fell by 0.1% in December 2024 compared with the previous month to 106.9 points (December 2020 = 100). Inflation was +0.6% compared with the same month of the previous year. The average annual inflation reached +1.1% in 2024. These are the results of the Federal Statistical Office (FSO).
The 0.1% decrease in the CPI compared with the previous month is due to several factors including lower prices for international package holidays, medicines and several types of vegetables. In contrast, prices for supplementary accommodation and hotels increased.
Average annual inflation for 2024 corresponds to the rate of change between the annual average of the CPI for 2024 and that for 2023. The annual average is equal to the arithmetic mean of the 12 monthly indices of the calendar year. Average annual inflation was +1.1% in 2024. This increase was due in particular to higher prices for housing rentals and electricity. In contrast, prices for medicines, gas and second-hand cars decreased. Prices for domestic products increased by +1.9% on average, those for imported products fell by -1.5%. Average annual inflation was +2.1% in 2023 and +2.8% in 2022.
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