UBS released its consumption index for Switzerland on Tuesday. The UBS consumption index increased to 1.65 in September from 1.64 in August. August's figure was revised up from 1.63.

The increase was partly driven by a rise in automobiles sales.

"Lower prices for foreign-produced consumer goods in Swiss francs, such as automobiles, may be the likely reason," the bank said.

The lender noted that the low interest rate supported purchases of consumer durables.