As inflation rises around the world, Switzerland feels the heat too. This week the Federal Statistical Office (FSO) published data on construction, which show an unusually large jump in costs.
The costs of construction leapt 2.7% between April and October 2021, according to the data, leaving prices 4.1% higher than a year earlier.
The construction index contains both civil engineering works and building construction. Between April and October 2021, the cost of building construction (+3.1%) rose more than civil engineering work (+1.3%). Building construction by itself was up 4.6% year on year. Within building construction, work such as masonry (+7.2%), carpentry (+8.5%), installing heating insulation (+10.5%) and heating pipe work (14.4%) rose far more than the average on a year on year basis.
No region was untouched by the building construction price increases. Year on year rises in the Lake Geneva region (+3.7%), Mittelland region (+4.9%), north west Switzerland (+5.4%), Zurich (+4.8%), east Switzerland (+4.5%), Central (+4.7%) and Ticino (+4.8%) were all fairly close to the Swiss average (+4.6%).