The Swiss Federal Statistics Office released its consumer inflation data on Wednesday. Switzerland's consumer price index declined 0.6% in July, missing expectations for a 0.4% decrease, after a 0.1% rise in June.

On a yearly basis, Switzerland's consumer price index decreased to -1.3% in July from -1.0% in June, missing forecasts of a 1.1% decline.

Food and beverages prices dropped at an annual rate of 1.5% in July, clothing and footwear prices fell 0.1%, while housing and energy prices declined 0.5%.

Education costs increased by 1.2%.