The Federal Statistical Office released its producer and import prices data on Tuesday. Switzerland's producer and import prices rose 0.4% in November, exceeding expectations for a 0.1% gain, after a 0.2% increase in October.

The increase was mainly driven by higher prices for mineral oil products.

The Import Price Index increased by 0.8% in November, while producer prices climbed 0.3%.

On a yearly basis, producer and import prices plunged 5.5% in November, after a 6.6% drop in October.

The Import Price Index fell by 9.7% year-on year in November, while producer prices dropped 3.6%.