The Federal Statistical Office released its producer and import prices data on Monday. Switzerland's producer and import prices declined 1.4% in February, missing expectations for a 0.4% increase, after a 0.6% fall in January. That was the biggest decline since November 2008.

On a yearly basis, producer and import prices decreased 3.6% in February, after a 2.7% drop in January. That was the lowest level since October 2009.

The decline was driven by lower oil prices and a stronger Swiss franc.