Producer and Import Price Index, April 2023
The monthly rate for the Producer Price Index decreased due to lower energy prices in April 2023
Statistical news from Statistics Sweden 2023-05-26 8.00
The Producer Price Index decreased by 1.0 percent in April compared to March 2023. Prices decreased by 0.4 percent on the export market and by 1.6 percent on the domestic market. On the import market, prices rose by 0.3 percent. The annual rate according to the Producer Price Index was 1.3 percent in April (3.5 percent in March).
In brief
- Energy related goods contributed to the downturn on the Producer Price Index by 1.0 percentage point.
- Lower prices on paper and paper products contributed downwards on all markets.
- Lowest annual rates for Producer Price Index since January 2021.
- The annual rate for consumer goods in Price Index for Domestic Supply was 13.1 percent in April (compared to 13.8 percent in March).
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| March 2023– April 2023 |
April 2022– April 2023 |
|
| Producer Price Index, home sales | ‑1.6 | 0.1 |
| Export Price Index | ‑0.4 | 2.9 |
| Import Price Index | 0.3 | 2.7 |
| Producer Price Index | ‑1.0 | 1.3 |
| Price Index for domestic supply | ‑0.6 | 1.4 |
*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 and export markets, but positive on the import market in April. 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 district heating. Prices also fell within trade services of electricity, refined petroleum products as well as on paper and paper products. This downturn was offset by higher prices on wood and products of wood, machining services and preserved meat and meat products.
On the export market the main negative contribution came from lower prices on paper and paper products. Prices also fell within generation of electricity, food products, chemicals and chemical products and refined petroleum products. This downturn was offset by higher prices on basic metals, other machinery and equipment as well as on sawn and planed wood.
The main contribution to the increase on the import market came from higher prices on crude oil. Prices also rose in electrical equipment, basic metals as well as on computer, electronic and optical products. This upturn was offset by price decreases on refined petroleum products, chemicals and chemical products, paper and paper products, other machinery and equipment and food products.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, March 2023– April 2023 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.6 | |||
| 10 | Food products | ‑0.1 | ‑0.1 | ||
| 10.1 | Preserved meat and meat products | 0.1 | |||
| 16 | Wood and products of wood | 0.2 | |||
| 16.1 | Sawn and planed wood | 0.1 | |||
| 17 | Paper and paper products | ‑0.1 | ‑0.2 | ‑0.1 | |
| 19.2 | Refined petroleum products | ‑0.1 | ‑0.1 | ‑0.3 | |
| 20 | Chemicals and chemical products | ‑0.1 | ‑0.2 | ||
| 24 | Basic metals | 0.2 | 0.1 | ||
| 25.62 | Machining services | 0.1 | |||
| 26 | Computer, electronic and optical products | 0.1 | |||
| 27 | Electrical equipment | 0.1 | |||
| 28 | Other machinery and equipment | 0.1 | ‑0.1 | ||
| 35.11A | Generation of electricity | ‑0.2 | |||
| 35.14 | Trade services of electricity | ‑0.6 | |||
| 35.3 | District heating | ‑1.0 | |||
Changes in the last year
The annual rate for the domestic market was 0.1 percent in April (2.4 percent in March). The annual rate for the export market was 2.9 percent during the same period (4.9 percent in March). On the import market, the annual rate in April was 2.7 percent (3.2 percent in March).
The annual rate of the Producer Price Index was 1.3 percent in April. Compared with April 2022, prices fell by 14.4 percent on energy-related products. Prices increased by 11.3 percent on consumer goods and increased by 9.6 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 5.6 percent.
The annual rate of the Price Index for Domestic Supply was 1.4 percent in April. Compared with April 2022, prices fell by 17.0 percent on energy-related products. Prices increased by 13.1 percent on consumer goods and increased by 8.9 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 6.6 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) |
|---|---|---|
| March 2023– April 2023 |
April 2022– April 2023 |
|
| DKK | 0.0 | ‑6.7 |
| EUR | 0.0 | ‑6.8 |
| GBP | ‑1.0 | ‑1.6 |
| NOK | 3.9 | 9.5 |
| USD | 0.5 | ‑8.9 |
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 May will be published on 2023-06-27 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.