The Swiss Federal Statistics Office released its consumer inflation data on Tuesday. Switzerland's consumer price index rose 0.2% in May, exceeding expectations for a 0.1% increase, after a 0.2% drop in April.

On a yearly basis, Switzerland's consumer price index declined to -1.2% in May from -1.1% in April, in line with expectations. It was the seventh consecutive decline.

Food and beverages prices dropped at an annual rate of 1.2% in May, alcoholic beverages prices were up 0.1%, and clothing and footwear prices fell 0.6%, while housing and energy prices declined 0.3%.