Producer and Import Price Index, December 2020
Prices increased on all markets in December 2020
Statistical news from Statistics Sweden 2021-01-26 9.30
The Producer Price Index increased by 1.2 percent between November and December 2020. Prices increased by 1.4 percent on the domestic market and by 0.9 percent on the export market. On the import market, prices increased by 0.7 percent. The annual rate according to the Producer Price Index was -2.7 percent in December 2020 (-4.4 percent in November).
In brief
- Prices increased on all markets from November to December.
- In general, prices on electricity and basic metals were higher than in the previous month.
- Prices remained low on all markets compared with December a year ago.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| November 2020– December 2020 |
December 2019– December 2020 |
|
| Producer Price Index | 1.2 | ‑2.7 |
| Producer Price Index, home sales | 1.4 | ‑0.9 |
| Export Price Index | 0.9 | ‑4.5 |
| Import Price Index | 0.7 | ‑7.7 |
| Price Index for domestic supply | 1.1 | ‑4.5 |
* Products from mining and quarrying, manufactured products, electricity, gas, heating, cooling, water and waste collection.
Changes in the last month
Prices increased on all markets from November to December.
On the domestic market, upward contributions came mainly from higher prices on electricity, where prices increased in all electricity areas. In addition, prices rose on district heating, basic metals, waste management services and recycling services.
Like on the domestic market, the increase on the export market was mainly due to higher prices on electricity. Also, basic metals, waste management services and recycling services, and food products also contributed to the positive monthly rate of change. This upturn was somewhat offset by lower prices on paper and paperboard, motor vehicles, trailers and semi-trailers, electrical equipment and machinery and equipment.
The main contribution to the upturn on the import market came from higher prices on crude oil. Prices also increased on electricity, pharmaceutical preparations, and basic metals. Lower prices for computer, electronic and optical products somewhat offset this increase. Prices also fell on machinery and equipment, and parts and accessories for motor vehicles.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, November 2020– December 2020 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.5 | |||
| 10 | Food products | 0.1 | |||
| 17.12 | Paper and paperboard | ‑0.1 | |||
| 21.2 | Pharmaceutical preparations | 0.2 | |||
| 24 | Basic metals | 0.1 | 0.2 | 0.1 | |
| 26 | Computer, electronic and optical products | ‑0.2 | |||
| 27 | Electrical equipment | ‑0.1 | ‑0.1 | ||
| 28 | Machinery and equipment n.e.c. | ‑0.1 | ‑0.1 | ||
| 29 | Motor vehicles, trailers and semi-trailers | ‑0.1 | |||
| 29.3 | Parts and accessories for motor vehicles | ‑0.1 | |||
| 35.11 | Electricity | 0.5 | 0.2 | 0.2 | |
| 35.3 | Steam and air conditioning supply services | 0.4 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | 0.1 | 0.2 | ||
Changes in the last year
Price declines persisted on a yearly basis on all markets. The annual rate was -0.9 percent on the domestic market. On the import and the export markets, the annual rates were -7.7 percent and -4.5 percent respectively.
The annual rate according to the Producer Price Index was -2.7 percent in December. Prices on energy-related products fell by 13.6 percent compared with December 2019. The annual rate for the Producer Price Index excluding energy-related products was -0.9 percent. Prices on capital goods and on consumer goods fell by 2.6 percent and by 0.8 percent respectively.
The annual rate of the Price Index for Domestic Supply was -4.5 percent in December. Prices on energy-related products fell by 19.8 percent compared with the corresponding month a year ago. The annual rate for the Price Index for Domestic Supply excluding energy-related products was -1.3 percent. Prices on capital goods and on consumer goods fell by 1.9 percent and by 0.9 percent respectively.
Changes in exchange rates
An appreciation or depreciation of the Swedish currency lowers or raises export and import prices in Swedish kronor. Prices at the producer and import stages are converted from foreign currencies to Swedish kronor according to Swedish Customs’ exchange rates.
| Currency | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| November 2020– December 2020 |
December 2019– December 2020 |
|
| DKK | 1.5 | 4.5 |
| EUR | 1.4 | 4.8 |
| GBP | ‑0.5 | 8.7 |
| NOK | ‑0.5 | 9.9 |
| USD | 1.6 | 11.3 |
A positive number means that the Swedish krona was strengthened against that currency.
Changes in 2021
Some changes in the production of the Producer and Import Price Index will be introduced from 2021. For further information, please see:
Definitions and explanations
The Producer Price Index home sales (HMPI) measures changes in Swedish producers’ prices of goods manufactured and sold in Sweden.
The Export Price Index (EXPI) measures changes in Swedish producers’ prices of goods manufactured in Sweden and sold outside Sweden, both within and outside the EU.
The Import Price Index (IMPI) measures changes in the prices of imports of goods into Sweden.
The Producer Price Index (PPI) measures changes in the prices of Swedish producers’ total sales, obtained by combining the HMPI and the EXPI.
The Price Index for Domestic Supply (ITPI) measures changes in the prices of goods sold in Sweden, obtained by combining the HMPI and the IMPI.
Next publishing will be
Statistics for January will be published on 2021-02-26 at 09:30.
Statistical Database
More information is available in the Statistical Database
Feel free to use the facts from this statistical news but remember to state Source: Statistics Sweden.