Producer and Import Price Index, October 2022
Producer and import prices decreased in October compared to September 2022
Statistical news from Statistics Sweden 2022-11-25 8.00
The Producer Price Index decreased by 1.5 percent in October compared to September 2022. Prices decreased by 0.5 percent on the export market and decreased by 2.5 percent on the domestic market. On the import market, prices decreased by 1.6 percent. The annual rate according to the Producer Price Index was 18.7 percent in October (20.6 percent in September).
In brief
- All markets were affected by decreasing prices on electricity.
- Prices on food products continued to increase in all markets.
- The annual rate for consumer goods in Price Index for Domestic Supply continued to rise and was 18.1 percent in October (16.7 percent in September).
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| September 2022– October 2022 |
October 2021– October 2022 |
|
| Producer Price Index, home sales | ‑2.5 | 17.0 |
| Export Price Index | ‑0.5 | 20.3 |
| Import Price Index | ‑1.6 | 25.1 |
| Producer Price Index | ‑1.5 | 18.7 |
| Price Index for domestic supply | ‑2.1 | 21.2 |
*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 negative on the domestic, export as well as the import market in October. This resulted in negative monthly rate of change for both Producer Price Index and Price Index for Domestic Supply during the same period.
The largest negative contribution on the domestic market came from lower prices on trade services of electricity. Prices also fell within sawn and planed wood, fabricated metal products, materials recovery services, secondary raw materials and electronic components and boards as well as on generation of electricity. This downturn was somewhat offset by higher prices on district heating, food products, other machinery and equipment and other non-metallic mineral products as well as on distribution services of electricity.
On the export market the main negative contribution came from lower prices on generation of electricity. Prices also fell within sawn and planed wood and other organic basic chemicals. This downturn was offset by higher prices on other machinery and equipment, paper and paper products, motor vehicles, trailers and semi-trailers and basic metals as well as several other groups.
The main contribution to the decrease on the import market came from lower prices on generation of electricity. Prices also fell within natural gas, crude oil, basic metals and other organic basic chemicals as well as on other chemical products. This downturn was offset by higher prices on food products, motor vehicles, trailers and semi-trailers, other machinery and equipment, electrical equipment, as well as by a number of other product groups.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, September 2022– October 2022 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑0.4 | |||
| 06.2 | Natural gas | ‑0.8 | |||
| 10 | Food products | 0.1 | 0.1 | 0.2 | |
| 16.1 | Wood, sawn and planed | ‑0.2 | ‑0.4 | ||
| 17 | Paper and paper products | 0.4 | 0.1 | ||
| 20.13 | Other inorganic basic chemicals | 0.1 | 0.1 | ||
| 20.14 | Other organic basic chemicals | ‑0.1 | ‑0.1 | ||
| 20.59 | Other chemical products n.e.c. | ‑0.1 | |||
| 21.2 | Pharmaceutical preparations | 0.1 | |||
| 23 | Other non-metallic mineral products | 0.1 | 0.1 | ||
| 24 | Basic metals | 0.2 | ‑0.1 | ||
| 25 | Fabricated metal products, except machinery and equipment | ‑0.1 | 0.1 | 0.1 | |
| 26 | Computer, electronic and optical products | 0.1 | |||
| 26.1 | Electronic components and boards | ‑0.1 | |||
| 27 | Electrical equipment | 0.1 | 0.2 | ||
| 28 | Machinery and equipment n.e.c. | 0.1 | 0.4 | 0.2 | |
| 29 | Motor vehicles, trailers and semi-trailers | 0.2 | 0.2 | ||
| 35.11A | Generation of electricity | ‑0.1 | ‑2.9 | ‑2.3 | |
| 35.13 | Distribution services of electricity | 0.1 | |||
| 35.14 | Trade services of electricity | ‑3.3 | |||
| 35.3 | District heating | 0.2 | |||
| 38 | Waste collection, treatment and disposal- and materials recovery services | 0.1 | |||
| 38.3 | Materials recovery services, secondary raw materials | ‑0.1 | |||
Changes in the last year
The annual rate for the domestic market was 17.0 percent in October (20.0 percent in September). The annual rate for the export market was 20.3 percent during the same period (21.1 percent in September). On the import market, the annual rate in October was 25.1 percent (30.5 percent in September).
The annual rate of the Producer Price Index was 18.7 percent in October. Compared with October 2021, prices rose by 46.1 percent on energy-related products. Prices increased by 16.7 percent on consumer goods and increased by 13.9 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 14.2 percent.
The annual rate of the Price Index for Domestic Supply was 21.2 percent in October. Compared with October 2021, prices rose by 48.2 percent on energy-related products. Prices increased by 18.1 percent on consumer goods and increased by 12.0 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 15.6 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) |
|---|---|---|
| September 2022– October 2022 |
October 2021– October 2022 |
|
| DKK | ‑2.5 | ‑6.4 |
| EUR | ‑2.5 | ‑6.4 |
| GBP | 1.1 | ‑4.9 |
| NOK | 3.4 | ‑5.4 |
| USD | ‑2.9 | ‑21.0 |
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 November will be published on 2022-12-22 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.