In January 2019, prices fell 0.3%. This follows monthly declines of 0.3% in both November and December 2018.
Falling clothing, shoe, heating oil and medicine prices were the main drivers of the monthly price decline, which was muted by rising hotel and electricity prices.
By the end of January 2019, Swiss consumer prices, based on the consumer price index, were only 1.3% higher than at the end of 2015. Since 2015, the largest price rises were for food (+0.33%), housing and energy (+0.81%), transport (+2.5%) and restaurants and hotels (+2.6%). The largest price declines were for household goods (-0.16) and healthcare (-0.27).