According to the report from the Federal Statistical Office (FSO), the consumer price index (CPI) fell by 0.2% in November 2020 compared with the previous month, reaching 101.0 points (December 2015 = 100). Inflation was –0.7% compared with the same month of the previous year. 

The 0.2% decrease compared with the previous month can be explained by several factors including falling prices for international package holidays. Hotel accommodation also recorded a price decrease, as did fruiting vegetables. In contrast, prices for housing rentals and foreign red wine increased.

In November 2020, the Swiss Harmonised Index of Consumer Prices (HICP) stood at 100.09 points (base 2015 = 100). This corresponds to a rate of change of –0.4% compared with the previous month and of –0.8% compared with the same month the previous year. Due to the effects of the pandemic, the same missing price imputation techniques used for the CPI were introduced for the HICP.