Producer and Import Price Index, September 2021
Producer and import prices continue to increase
Statistical news from Statistics Sweden 2021-10-26 9.30
The Producer Price Index rose by 1.5 percent from August to September. Prices increased by 0.6 percent on the export market and by 2.2 percent on the domestic market. On the import market, prices rose by 2.5 percent. The annual rate according to the Producer Price Index was 17.2 percent in September 2021 (15.8 percent in August).
In brief
- Prices on wood products on the export market fell for the first time since July 2020.
- All markets were affected by rising prices on electricity and on metals.
- Rising prices for natural gas and crude oil contributed to the upturn on the import market.
| Total: SPIN B–E* | Change, percent (monthly) | Change, percent (yearly) |
|---|---|---|
| August 2021– September 2021 | September 2020– September 2021 | |
| Producer Price Index, home sales | 2.2 | 16.4 |
| Export Price Index | 0.6 | 18.1 |
| Import Price Index | 2.5 | 16.0 |
| Producer Price Index | 1.5 | 17.2 |
| Price Index for domestic supply | 2.4 | 16.3 |
*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 remained positive on all markets from August to September.
On the domestic market, the main upward contribution came from rising prices on trade services of electricity, followed by steam and air conditioning supply services. Prices also rose on motor vehicles, trailers and semi-trailers, fabricated metal products, except machinery and equipment, basic metals, chemicals and chemical products, and wood and products of wood and cork.
On the export market, the main upward contribution came from rising prices on generation of electricity as well as basic metals. Prices also rose on chemicals and chemical products. This upturn was somewhat offset by falling prices on wood and products of wood and cork, pulp and fabricated metal products, except machinery and equipment.
On the import market, the main upward contribution came from rising prices on crude oil as well as generation of electricity, followed by natural gas and basic metals. Prices also increased on chemicals and chemical products, food products, fabricated metal products, except machinery and equipment, motor vehicles, trailers and semi-trailers and engines and turbines, except aircraft, vehicle and cycle engines.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, August 2021– September 2021 | ||||
|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | |||
| 06.1 | Crude oil | 0.6 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.2 | |||
| 10 | Food products | 0.1 | |||
| 16 | Wood and products of wood and cork | 0.1 | ‑0.1 | ||
| 17.11 | Pulp | ‑0.1 | |||
| 20 | Chemicals and chemical products | 0.1 | 0.1 | 0.2 | |
| 24 | Basic metals | 0.1 | 0.4 | 0.2 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.1 | ‑0.1 | 0.1 | |
| 28.11 | Engines and turbines, except aircraft, vehicle and cycle engines | 0.1 | |||
| 29 | Motor vehicles, trailers and semi-trailers | 0.2 | 0.1 | ||
| 35.11A | Generation of electricity | 0.1 | 0.6 | 0.4 | |
| 35.14 | Trade services of electricity | 1.1 | |||
| 35.3 | Steam and air conditioning supply services | 0.3 | |||
Changes in the last year
The annual rate of change remained positive for all markets in September 2021. The main upward contributions came from higher prices for electricity, gas, steam and air conditioning. These prices increased by 505 percent on the import market and by 174.6 percent on the export market in September 2021, compared with September a year ago.
In September, the annual rate was 18.1 percent for the export market, compared with 17.9 percent in August. The annual rate for the domestic market and import market was also higher than the previous month and was 16.4 percent and 16 percent, respectively.
The annual rate of the Producer Price Index was 17.2 percent in September 2021. Compared with September 2020, prices rose by 44.3 percent on energy-related products, by 3.9 percent on capital goods, and by 2.8 percent on consumer goods. The annual rate of the Producer Price Index excluding energy-related products was 13.6 percent.
The annual rate of the Price Index for Domestic Supply was 16.3 percent in September. Prices on energy-related products increased by 51.7 percent compared with the corresponding month a year ago. Prices increased by 3.3 percent on capital goods and by 3.1 percent on consumer goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 10.9 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) |
|---|---|---|
| August 2021– September 2021 |
September 2020– September 2021 |
|
| DKK | ‑0.1 | 0.6 |
| EUR | 0.0 | 0.8 |
| GBP | ‑1.4 | ‑4.7 |
| NOK | ‑1.2 | ‑0.3 |
| USD | ‑0.4 | ‑1.0 |
A positive number means that the Swedish krona was strengthened against that currency.
Definitions and explanations
Trade services of electricity was previously called electricity but has changed its designation to conform to the content and classification.
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 October will be published on 2021-11-25 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.