Swiss middle class cuts back as living costs rise

Rising living costs are squeezing Switzerland’s middle class as well as people on the lowest incomes, with families cutting back on leisure and holidays, SRF reports.

At a market in Vevey, customers said everyday expenses were becoming increasingly difficult to manage. Retirees and people on very low incomes are most affected, but the middle class is also losing purchasing power.

In Lucens, home-care nurse Sabrina Meriem and landscaper Mathieu Rochat have a combined monthly net income of 11,200 francs. Taxes, their mortgage, health insurance premiums, food and fuel leave them with fixed costs of more than 7,000 francs a month.

Rising heating oil prices are a particular concern. The couple decided not to fill their tanks completely. Rochat said he hoped the remaining oil would last through winter until prices fell significantly. He said they could pay their bills, but had less left over and could afford fewer family activities. Meriem said she felt the middle class was paying for both the rich and the poor.

A January 2026 study by market research institute Qualinsight found that 89 percent of people in French-speaking Switzerland keep close track of their spending. More than half said they were cutting back on leisure and holidays, while 47 percent were reducing spending on food.

Aurore and Lionel Carrard, who run a family farm in the rural municipality of Poliez-Pittet, face similar pressure. Their gross income is about 280,000 francs a year, but their monthly expenses regularly reach 20,000 francs. Aurore Carrard said the family worked mainly to cover costs and could not always afford activities such as a restaurant meal. Her husband said the farm now required more work but left little at the end of the month.

Politicians disagree on how to ease the pressure. Social Democratic National Council member Benoît Gaillard says stricter enforcement of laws could bring down rents and fuel margins. Swiss People’s Party politician Yvan Pahud has called for lower taxes and charges. In the canton of Vaud, an initiative known as “12%” has recently succeeded in calling for cuts to cantonal income and wealth taxes.

The outlook remains difficult, with rents, public transport and energy costs continuing to rise. Many people in Switzerland feel that their social standing is slipping.