Swiss households absorb fuel inflation better than other countries

At many Swiss petrol stations, a litre of petrol currently costs CHF2 ($2.44). But it is relatively cheap to fill up in Switzerland compared with many other countries. The price of petrol is a hotly debated topic, especially when it recently crossed the symbolic threshold of CHF2 per litre. Philippe Thalmann, a professor of economics at the Swiss Federal Institute of Technology Lausanne (EPFL), sees the true cost of fuel in a different way. "If you calculate the price in relation to average incomes, Switzerland has one of the cheapest prices," he said. When petrol prices are measured against average incomes, Switzerland is among the countries with the cheapest fuel. In most countries, petrol places a much heavier burden on household budgets than it does in Switzerland. This is the case when compared with neighbouring countries, and even more so when compared with poorer regions of the world. “A litre of petrol costs half as much as in Vietnam as in Switzerland in absolute terms," ... Full story here Are you the author? Previous post See more for 3.) Swissinfo Business and Economy Next post
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