Producer and Import Price Index, December 2024
Prices unchanged on the domestic market in December 2024
Statistical news from Statistics Sweden 2025-01-24 8.00
The Producer Price Index rose by 0.1 percent in December compared to November 2024. Prices increased by 0.3 percent on the export market and increased by 1.4 percent on the import market. On the domestic market, prices were unchanged. The annual rate according to the Producer Price Index was 2.0 percent in December (0.3 percent in November).
In brief
- Prices for refined petroleum products increased on all markets in December compared to November 2024.
- Prices for trade service of electricity on the domestic market fell by 10.3 percent in December compared to November 2024 and compared to the same period last year, prices fell by 33.8 percent.
- The annual rate of the Producer Price Index excluding energy-related products increased from 2.2 percent in November to 3.9 percent in December.
- The annual rate for consumer goods in Price Index for Domestic Supply increased from 2.3 percent in November to 4.4 percent in December.
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| November 2024– December 2024 |
December 2023– December 2024 |
|
| Producer Price Index, home sales | 0.0 | 1.4 |
| Export Price Index | 0.3 | 2.7 |
| Import Price Index | 1.4 | 2.3 |
| Producer Price Index | 0.1 | 2.0 |
| Price Index for domestic supply | 0.7 | 1.9 |
*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 export and import markets, but unchanged on the domestic market in December. This resulted in a positive monthly rate of change for both Producer Price Index and Price Index for Domestic Supply during the same period.
The main contribution on the domestic market came from lower prices on trade services of electricity. Prices also fell in waste collection, treatment and disposal- and materials recovery services. Prices increased in district heating, refined petroleum products, food products, as well as for motor vehicles, trailers and semi-trailers.
On the export market the main upward contribution came from higher prices on motor vehicles, trailers and semi-trailers. Prices also rose in other machinery and equipment, basic precious and other non-ferrous metals, refined petroleum products, chemicals and chemical products as well as on computer, electronic and optical products. This upturn was offset by price decreases on generation of electricity as well as on basic iron and steel.
The main contribution to the increase on the import market came from higher prices on crude oil. Prices also rose in other machinery and equipment, computer, electronic and optical products, motor vehicles, trailers and semi-trailers, chemicals and chemical products, electrical equipment, food products, plastic products, basic precious and other non-ferrous metals, refined petroleum products and other manufactured goods.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, November 2024– December 2024 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.2 | |||
| 10 | Food products | 0.1 | 0.1 | ||
| 19.2 | Refined petroleum products | 0.2 | 0.1 | 0.1 | |
| 20 | Chemicals and chemical products | 0.1 | 0.1 | ||
| 22.2 | Plastic products | 0.1 | |||
| 24.1 | Basic iron and steel | ‑0.1 | |||
| 24.4 | Basic precious and other non-ferrous metals | 0.1 | 0.1 | ||
| 26 | Computer, electronic and optical products | 0.1 | 0.1 | ||
| 27 | Electrical equipment | 0.1 | |||
| 28 | Other machinery and equipment | 0.2 | 0.1 | ||
| 29 | Motor vehicles, trailers and semi-trailers | 0.1 | 0.3 | 0.1 | |
| 32 | Other manufactured goods | 0.1 | |||
| 35.11A | Generation of electricity | ‑0.4 | |||
| 35.14 | Trade services of electricity | ‑0.6 | |||
| 35.3 | District heating | 0.2 | |||
| 38 | Waste collection, treatment and disposal- and materials recovery services | ‑0.1 | |||
Changes in the last year
The annual rate for the domestic market was 1.4 percent in December (0.8 percent in November). The annual rate for the export market was 2.7 percent during the same period (-0.3 percent in November). On the import market, the annual rate in December was 2.3 percent (-1.9 percent in November).
The annual rate of the Producer Price Index was 2.0 percent in December. Compared with December 2023, prices fell by 8.8 percent on energy-related products. Prices increased by 4.5 percent on consumer goods and increased by 3.6 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 3.9 percent.
The annual rate of the Price Index for Domestic Supply was 1.9 percent in December. Compared with December 2023, prices fell by 7.2 percent on energy-related products. Prices increased by 4.4 percent on consumer goods and increased by 3.6 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 3.9 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) |
|---|---|---|
| November 2024– December 2024 |
December 2023– December 2024 |
|
| DKK | ‑1.6 | ‑1.6 |
| EUR | ‑1.6 | ‑1.6 |
| GBP | ‑1.4 | ‑5.7 |
| NOK | ‑2.9 | ‑1.9 |
| USD | ‑3.6 | ‑4.7 |
A positive number means that the Swedish krona was strengthened against that currency.
Upcoming change
As from January 2025 PPI will use the Riksbank’s exchange rate, instead of Swedish Customs’ exchange rates, when converting prices in foreign currencies to Swedish kronor.
More information will be given in connection to the publishing of January index, 2025-02-26.
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 2025-02-26 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.