The Swiss Producer and Import Price Index saw a monthly decline of 0.3% to reach 106.9 in October, the country's Federal Statistical Office said in its report published on Friday. Annually, the figure dropped by 1.8%.

The Producer Price Index decreased by 0.3% on a monthly level and 0.5% on a yearly one to hit 106.8. The number was affected mostly by a downward trend in the prices of watches, machinery, medical and dental equipment and materials, mineral oil products, and gas.

The Import Price Index slid by 0.4% month-on-month and 4.4% year-on-year to land at 107.0 amid a drop in the prices of mineral oil products, machinery, telecommunications equipment and facilities, electrical equipment, metal products, furniture, medical and dental equipment and materials, and steel.