Producer and Import Price Index, February 2021
Prices increased on all markets in February 2021
Statistical news from Statistics Sweden 2021-03-25 9.30
The Producer Price Index increased by 1.5 percent between January and February. The export market increased by 2.0 percent and the domestic market increased by 1.1 percent. On the import market, prices increased by 2.3 percent. The annual rate according to the Producer Price Index was 1.3 percent in February 2021 (-0.8 percent in January).
In brief
- All markets were affected by higher prices on basic metals.
- A weakened Swedish currency led to price increases in several product groups.
- The annual rate on the domestic market continued to rise.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| January 2021– February 2021 |
February 2020– February 2021 |
|
| Producer Price Index | 1.5 | 1.3 |
| Producer Price Index, home sales | 1.1 | 3.4 |
| Export Price Index | 2.0 | ‑0.9 |
| Import Price Index | 2.3 | ‑2.4 |
| Price Index for domestic supply | 1.7 | 0.4 |
Changes in the last month
The monthly rate of change was positive on all markets from January to February.
On the domestic market, upward contributions came mainly from higher prices on trade services of electricity and basic metals, followed by sawn and planed wood as well as structural metal products.
The main upward contributions on the export market came from higher prices on basic metals, chemicals and chemical products, and sawn and planed wood. Prices also increased on pulp, paper and paperboard, electricity, motor vehicles, trailers and semi-trailers, and other general-purpose machinery.
The upturn on the import market was affected primarily by higher prices on crude oil. Prices also increased on basic metals, chemicals and chemical products, computer, electronic and optical products, machinery and equipment, food products, fabricated metal products (except machinery and equipment), furniture, motor vehicles, trailers and semi-trailers, waste and waste collection services, and other manufactured goods.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, January 2021– February 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.7 | |||
| 10 | Food products | 0.1 | |||
| 16.1 | Wood, sawn and planed | 0.1 | 0.2 | ||
| 17.1 | Pulp, paper and paperboard | 0.2 | |||
| 20 | Chemicals and chemical products | 0.2 | 0.2 | ||
| 24 | Basic metals | 0.2 | 0.3 | 0.2 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.1 | |||
| 25.1 | Structural metal products | 0.1 | |||
| 26 | Computer, electronic and optical products | 0.2 | |||
| 28 | Machinery and equipment n.e.c. | 0.1 | |||
| 28.2 | Other general-purpose machinery | 0.1 | |||
| 29 | Motor vehicles, trailers and semi-trailers | 0.1 | 0.1 | ||
| 31 | Furniture | 0.1 | |||
| 32 | Other manufactured goods | 0.1 | |||
| 35.11 | Electricity | 0.1 | |||
| 35.14 | Trade services of electricity | 0.2 | |||
| 38.1 | Waste; waste collection services | 0.1 | |||
Changes in the last year
Price declines were apparent on a yearly basis on all markets except for the domestic market. The annual rate on the domestic market remained positive at 3.4 percent, an increase from January when the annual rate was 1.6 percent. On the import and the export markets, the annual rates were negative, at -2.4 percent and -0.9 percent respectively. In January, these rates were -5.4 percent and -3.3 percent respectively.
The annual rate according to the Producer Price Index was 1.3 percent in February. Prices on energy-related products rose by 6.6 percent compared with February 2020. Prices on capital goods and on consumer goods fell by 2.3 percent and by 1.5 percent respectively. The annual rate for the Producer Price Index excluding energy-related products was 0.5 percent.
The annual rate of the Price Index for Domestic Supply was 0.4 percent in February. Prices on energy-related products increased by 1.6 percent compared with the corresponding month a year ago. Prices on capital goods and on consumer goods fell by 1.4 percent each. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 0.1 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) |
|---|---|---|
| January 2021– February 2021 |
February 2020– February 2021 |
|
| DKK | ‑0.7 | 3.3 |
| EUR | ‑0.7 | 3.7 |
| GBP | ‑1.9 | 8.5 |
| NOK | ‑2.5 | 7.1 |
| USD | ‑1.0 | 12.2 |
A positive number means that the Swedish krona was strengthened against that currency.
Changes in 2021
Some changes in the production of the Producer and Import Price Index will be introduced in 2021. For further information, please see:
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 March will be published on 2021-04-27 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.