The Federal Statistical Office released its producer and import prices data on Friday. Switzerland's producer and import prices declined 0.6% in January, in line with expectations, after a 0.4% fall in December.

On a yearly basis, producer and import prices decreased 2.7% in January, missing expectation for a 1.5% decline, after a 2.1% drop in December.

The decline was driven by lower prices for petroleum and petroleum products.