Producer and Import Price Index, December 2022
Higher prices on electricity for all markets in December 2022
Statistical news from Statistics Sweden 2023-01-25 8.00
The Producer Price Index rose by 2.1 percent in December compared to November 2022. The export market was unchanged in December compared to November 2022. Prices increased by 4.2 percent on the domestic market. On the import market, prices decreased by 1.0 percent. The annual rate according to the Producer Price Index was 18.7 percent in December (19.5 percent in November).
In brief
- The domestic market excluding energy had a negative monthly change.
- Lower crude oil prices contributed 1.3 percentage points downwards to the monthly change on the import market.
- The Swedish krona strengthened against the US dollar compared with November 2022.
- The annual rate for consumer goods in Price Index for Domestic Supply decreased to 17.8 percent in December (18.2 percent in December).
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| November 2022– December 2022 |
December 2021– December 2022 |
|
| Producer Price Index, home sales | 4.2 | 17.8 |
| Export Price Index | 0.0 | 19.6 |
| Import Price Index | ‑1.0 | 21.8 |
| Producer Price Index | 2.1 | 18.7 |
| Price Index for domestic supply | 1.4 | 19.8 |
*Products from mining and quarrying, manufactured products, electricity, gas, heating, cooling, water and waste collection.
Changes in the last month
The monthly rate of change was positive on the domestic market, negative on the import market and unchanged on the export market in December. This resulted in positive monthly rate of change for both Producer Price Index and Price Index for Domestic Supply during the same period.
The main upward contribution on the domestic market came from higher prices on trade services of electricity. Prices also rose in district heating, generation of electricity and food products. This upturn was somewhat offset by price decreases on sawn and planed wood and materials recovery services (secondary raw materials).
On the export market the main upward contribution came from higher prices on generation of electricity. Prices also rose in lifting and handling equipment. This upturn was offset by price decreases on pulp, paper and paperboard, sawn and planed wood, basic chemicals and basic iron and steel.
The main contribution to the decrease on the import market came from lower prices on crude oil. Prices also fell within basic chemicals, computer, electronic and optical products, aluminium and other non-metallic mineral products. This downturn was offset by higher prices on generation of electricity, pharmaceutical preparations and natural gas.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, November 2022– December 2022 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑1.3 | |||
| 06.2 | Natural gas | 0.1 | |||
| 10 | Food products | 0.1 | |||
| 16.1 | Sawn and planed wood | ‑0.1 | ‑0.1 | ||
| 17.1 | Pulp, paper and paperboard | ‑0.2 | |||
| 20.1 | Basic chemicals | ‑0.1 | ‑0.3 | ||
| 21.2 | Pharmaceutical preparations | 0.2 | |||
| 23 | Other non-metallic mineral products | ‑0.1 | |||
| 24.1 | Basic iron and steel | ‑0.1 | |||
| 24.42 | Aluminium | ‑0.1 | |||
| 26 | Computer, electronic and optical products | ‑0.1 | |||
| 28.22 | Lifting and handling equipment | 0.1 | |||
| 35.11A | Generation of electricity | 0.1 | 2.9 | 1.5 | |
| 35.14 | Trade services of electricity | 4.6 | |||
| 35.3 | District heating | 0.2 | |||
| 38.3 | Materials recovery services, secondary raw materials | ‑0.1 | |||
Changes in the last year
The annual rate for the domestic market was 17.8 percent in December (17.5 percent in November). The annual rate for the export market was 19.6 percent during the same period (21.5 percent in November). On the import market, the annual rate in December was 21.8 percent (25.0 percent in November).
The annual rate of the Producer Price Index was 18.7 percent in December. Compared with December 2021, prices rose by 45.1 percent on energy-related products. Prices increased by 14.8 percent on consumer goods and increased by 12.8 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 13.4 percent.
The annual rate of the Price Index for Domestic Supply was 19.8 percent in December. Compared with December 2021, prices rose by 42.8 percent on energy-related products. Prices increased by 17.8 percent on consumer goods and increased by 11.9 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 14.3 percent.
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 2022– December 2022 |
December 2021– December 2022 |
|
| DKK | ‑0.4 | ‑8.4 |
| EUR | ‑0.4 | ‑8.4 |
| GBP | ‑0.8 | ‑5.6 |
| NOK | ‑0.5 | ‑3.6 |
| USD | 4.6 | ‑16.5 |
A positive number means that the Swedish krona was strengthened against that currency.
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 2023-02-28 at 08:00.
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.