The Federal Statistical Office released its producer and import prices data on Thursday. Switzerland's producer and import prices fell 0.6% in February, missing expectations for a 0.2% gain, after a 0.4% decrease in January.

The decrease was mainly driven by lower prices for chemical and pharmaceutical, and petroleum products.

The Import Price Index decreased by 1.0% in February, while producer prices fell 0.5%.

On a yearly basis, producer and import prices plunged 4.6% in February, beating expectations for a 5.1% fall, after a 5.3% drop in January.

The Import Price Index fell by 6.9% year-on year in February, while producer prices dropped 3.5%.