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

The decrease was mainly driven by lower prices for mineral oil products.

The Import Price Index decreased by 0.8% in December, while producer prices fell 0.3%.

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

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