The Swiss Federal Statistics Office released its consumer inflation data on Tuesday. Switzerland's consumer price index rose 0.2% in February, beating expectations for a 0.1% decline, after a 0.4% decrease in January.

The increase was mainly driven by higher prices for clothing, rents and airfares.

On a yearly basis, Switzerland's consumer price index increased to -0.8% in February from -1.3% in January, beating forecasts of a 1.1% decrease.