The Federal Statistical Office released its producer and import prices data on Monday. Switzerland's producer and import prices fell 0.4% in January, after a 0.4% decrease in December.

The decrease was mainly driven by lower prices for petroleum products.

The Import Price Index decreased by 0.8% in January, while producer prices fell 0.1%.

On a yearly basis, producer and import prices plunged 5.3% in January, after a 5.5% drop in December.

The Import Price Index fell by 8.8% year-on year in January, while producer prices dropped 3.7%.