Inflation in Switzerland hit a 29-year high of 3.5% in 2022, well below the double-digit rates of other advanced economies.
High tariffs onalso mean that domestically produced foods, such as milk and cheese, are preferentially priced and less impacted by movements in global food markets. That, in turn, has helped stimulate the country's economy.
"When you're a tenant ... I think that's maybe a point which increases a bit," one shopper told CNBC.to an average of 2.4% in 2023, before reaching 1.8% in 2024. "Even if we have a kind of recessionary scenario, people are still coming in, and that, of course, stabilizes demand," Straumann said, referring to the free movement of people across Europe. "I expect the same thing for this year, 2023, and probably also for 2024."Switzerland's unique economic landscape is decades in the making and difficult for most countries to replicate wholesale.
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