The Federal Statistical Office released its producer and import prices data on Friday. Switzerland's producer and import prices dropped 2.1% in April, missing expectations for a 0.1% decline, after a 0.2% rise in March.

On a yearly basis, producer and import prices plunged 5.2% in April, after a 3.4% drop in March.

The decline was driven by lower prices for machinery, electronic and optical products, metal products, electrical equipment, motor vehicles and medical equipment.