Switzerland's consumer prices declined further in October, and the rate of fall exceeded economists' expectations, latest data showed Tuesday.

The consumer price index dropped 0.3 percent in October from the same month of last year, following a 0.1 percent decline in September, the Federal Statistical Office said. Economists had forecast a 0.1 percent for October.

Consumer prices declined a seasonally adjusted 0.1 percent compared to September, contrary to expectations for a 0.1 percent increase. In September, prices had increased 0.3 percent month-on-month.

The harmonized index of consumer prices (HICP), measured under the EU methodology, stayed unchanged year-on-year in October, defying the forecast for a 0.2 percent gain.

Sequentially, the HICP edged down 0.1 percent. The index was expected to rise 0.1 percent month-on-month.