Purchasing power set to decrease in 2024

Thursday, 9 November 2023 06:07

The Swiss population will see its purchasing power eroded - according to a study by UBS economists.

The expected average wage growth of 1.9% next year will not be enough to offset rising prices.

"The majority of companies compensate for inflation, but they rarely go beyond that," says Florian Germanier, head of the UBS's annual salary survey.

With inflation forecast at 2%, real wages are likely to stagnate, and as health premiums are not included in the Swiss consumer price index, this will result in a loss of purchasing power in 2024.

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