A survey published on 27 December 2022 shows Swiss consumer sentiment is at its lowest since 2017.
More than one in four of those surveyed expects their financial situation to deteriorate. Rises in health insurance premiums and energy costs were cited as the main reasons for financial pessimism by the 27.5% of people expecting their financial situation to worsen. The same percentage was 13% in 2019, 17.6% in 2020 and 16% in 2021.
Unsurprisingly, the degree of pessimism rose as income declined. 41.8% of those with a household income less than CHF 4,000 per month were pessimistic, while 28.1% of those with CHF 4,000 to CHF 8,000 to spend expected their financial situation to get worse. A lower 21% of households with income over CHF 8,000 were pessimistic about future finances.
Overall, 44.7% of those surveyed by Comparis reported choosing between spending on items they would normally spend on. 23% said they would need to cut spending, another 23% that they could buy almost everything they wanted, leaving 4.6% who planned no spending cuts. At the other end of the spectrum, 4.7% said they felt they would not be able to make ends meet.
Inflation was a widespread concern. 71.2% said they were feeling the effects of inflation, a figure exceeding the percentage reporting pessimism and double the percentage last year. Inflation was felt most widely in relation to energy (71.2%), holidays (54.7%) and financial services (53.7%).