Producer and import price index, March 2020
Historic import market decline due to falling crude oil prices
Statistical news from Statistics Sweden 2020-04-24 9.30
The Producer Price Index decreased by 1.2 percent between February and March 2020. In the same period, prices decreased by 3.5 percent on the import market and by 1.4 percent on the export market.
Prices on the domestic market decreased by 1.2 percent. Domestic supply prices, that is, producer prices on the domestic market and import prices together, decreased by 2.4 percent.
Changes in the last month
Prices decreased on all markets between February and March, mainly due to lower prices on energy-related goods.
On the import market, the main downward contribution was a major drop in crude oil prices. In the last 30 years, based on current methods, this is the largest decrease on the import market from one month to another. This decline was offset by higher prices for motor vehicles, trailers and semi-trailers, as well as computers and peripheral equipment. Import price index for mining, quarrying and manufacturing excluding energy related goods (B-C excl. energy), showed a slight increase.
Lower prices for electricity and basic precious and other non-ferrous metals produced downward contributions on the export market. However, higher prices for pulp, paper and paperboard, motor vehicles, trailers and semi-trailers offset this decrease.
Lower prices for electricity and basic precious and other non-ferrous metals resulted in downward contributions on the domestic market.
Changes in the last year
For all markets, declines were also apparent on a yearly basis. The Producer Price Index annual rate in March was -3.6 percent (-1.2 percent in February). The annual rate was -5.2 percent on the import market and -4.9 percent on the export market. The annual rate was -4.0 percent for domestic supply prices and -2.5 percent on the domestic market.
| Total: B–E* | Index | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|---|
| March 2020, 2015=100 |
February 2020– March 2020 |
March 2019– March 2020 |
|
| Producer Price Index | 111.1 | ‑1.2 | ‑3.6 |
| Manufacturing | 110.2 | ‑1.2 | ‑2.4 |
| Producer Price Index, home sales | 111.1 | ‑1.2 | ‑2.5 |
| Electricity, gas, heating | 114.1 | ‑2.8 | ‑12.1 |
| Electricity | 95.2 | ‑7.0 | ‑33.4 |
| Export Price Index | 111.0 | ‑1.4 | ‑4.9 |
| Import Price Index | 109.0 | ‑3.5 | ‑5.2 |
| Price Index for domestic supply | 110.0 | ‑2.4 | ‑4.0 |
| Consumer goods | 112.6 | 0.4 | 3.8 |
| Capital goods | 109.2 | 0.6 | 1.3 |
| Intermediate goods | 112.8 | ‑0.2 | ‑1.9 |
| Energy related goods** | 101.2 | ‑15.9 | ‑24.8 |
* Products from mining and quarrying, manufactured products, electricity, gas, heating, cooling, water and waste collection. ** Subgroups 05, 06, 19, 35 and 36: Energy minerals (mainly crude oil), coal, refined petroleum products, nuclear fuel, electricity, gas, heating, cooling and water.
Changes in exchange rates
An appreciation or depreciation of the Swedish currency lowers or raises export and import prices in Swedish krona. According to Swedish Customs’ exchange rates, from February to March, the Swedish krona depreciated by 3.1 percent against the US dollar, by 1.9 percent against the pound sterling, by 0.5 percent against the Danish krona, and by 0.4 percent against the euro. The Swedish krona appreciated by 0.3 percent against the Norwegian krona.
In the last year, the Swedish krona depreciated against the US dollar by 5.4 percent, against the pound sterling by 4.9 percent, against the euro by 0.2 percent, and against the Danish krona by 0.1 percent. The Swedish krona appreciated by 2.7 percent against the Norwegian krona.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, February 2020– March 2020 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑3.0 | |||
| 10.1 | Preserved meat and meat products | 0.1 | |||
| 17.1 | Pulp, paper and paperboard | 0.2 | |||
| 20.14 | Other organic basic chemicals | ‑0.1 | ‑0.1 | ||
| 24.1 | Basic iron and steel and ferro-alloys | 0.1 | |||
| 24.4 | Basic precious and other non-ferrous metals | ‑0.1 | ‑0.1 | ||
| 26.2 | Computers and peripheral equipment | 0.1 | |||
| 27 | Electrical equipment | 0.1 | |||
| 28 | Machinery and equipment n.e.c. | 0.1 | 0.1 | ||
| 29 | Motor vehicles, trailers and semi-trailers | 0.1 | 0.1 | ||
| 35.11 | Electricity | ‑0.3 | ‑0.1 | ||
| 35.3 | Steam and air conditioning supply services | ‑0.1 | |||
| 38.1 | Waste; waste collection services | ‑0.1 | |||
Next publishing will be
Statistics for April will be published on 2020-05-27 at 09:30.
Statistical Database
More information is available in the Statistical Database
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