Producer and Import Price Index, January 2023
Lower prices on electricity contributed to the decline on all markets in January 2023
Statistical news from Statistics Sweden 2023-02-28 8.00
The Producer Price Index decreased by 5.2 percent in January 2023 compared to December 2022. Prices decreased by 2.3 percent on the export market and by 7.7 percent on the domestic market. On the import market, prices decreased by 0.6 percent. The annual rate according to the Producer Price Index was 11.8 percent in January (18.7 percent in December).
In brief
- The total index excluding energy had a positive monthly change on all markets.
- Prices on food products increased on all markets.
- The annual rate for consumer goods in Price Index for Domestic Supply decreased to 16.2 percent in January (17.8 percent in December).
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| December 2022– January 2023 |
January 2022– January 2023 |
|
| Producer Price Index, home sales | ‑7.7 | 9.3 |
| Export Price Index | ‑2.3 | 14.6 |
| Import Price Index | ‑0.6 | 15.6 |
| Producer Price Index | ‑5.2 | 11.8 |
| Price Index for domestic supply | ‑4.1 | 12.5 |
*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 all markets in January. 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 and transmission services of electricity. This downturn was offset by higher prices on district heating, food products, chemicals and chemical products, computer, electronic and optical products, distribution services of electricity and several other products.
On the export market the main negative contribution came from lower prices on generation of electricity. This downturn was offset by higher prices on pulp, paper and paperboard, electrical equipment, other machinery and equipment, fabricated metal products, basic metals, motor vehicles, trailers and semi-trailers and waste collection, treatment and disposal- and materials recovery services.
The main contribution to the decrease on the import market came from lower prices on generation of electricity. Prices also fell within basic chemicals, basic metals and fabricated metal products, natural gas and crude oil. This downturn was offset by higher prices on electrical equipment, food products, other machinery and 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, December 2022– Januari 2023 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑0.1 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | ‑0.1 | |||
| 10 | Food products | 0.3 | 0.2 | ||
| 16 | Wood and products of wood and cork, except furniture; articles of straw and plaiting materials | 0.1 | |||
| 17.1 | Pulp, paper and paperboard | 0.2 | |||
| 20 | Chemicals and chemical products | 0.2 | 0.1 | ||
| 20.1 | Basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms | ‑0.2 | |||
| 20.5 | Other chemical products | 0.1 | |||
| 22.2 | Plastic products | 0.1 | |||
| 23 | Other non-metallic mineral products | 0.1 | 0.1 | ||
| 24 | Basic metals | 0.1 | 0.1 | ‑0.2 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.1 | 0.2 | ‑0.1 | |
| 26 | Computer, electronic and optical products | 0.2 | 0.1 | ||
| 27 | Electrical equipment | 0.1 | 0.2 | 0.3 | |
| 28 | Machinery and equipment n.e.c. | 0.1 | 0.2 | 0.2 | |
| 29 | Motor vehicles, trailers and semi-trailers | 0.1 | 0.1 | ||
| 33 | Repair and installation services of machinery and equipment | 0.1 | |||
| 35.11A | Generation of electricity | ‑3.8 | ‑1.2 | ||
| 35.12 | Transmission services of electricity | ‑0.3 | |||
| 35.13 | Distribution services of electricity | 0.2 | |||
| 35.14 | Trade services of electricity | ‑9.6 | |||
| 35.3 | District heating | 0.4 | |||
| 36 | Natural water, water treatment and supply services | 0.1 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | 0.1 | 0.1 | ||
Changes in the last year
The annual rate for the domestic market was 9.3 percent in January (17.8 percent in December). The annual rate for the export market was 14.6 percent during the same period (19.6 percent in December). On the import market, the annual rate in January was 15.6 percent (21.8 percent in December).
The annual rate of the Producer Price Index was 11.8 percent in January. Compared with January 2022, prices rose by 11.7 percent on energy-related products. Prices increased by 15.7 percent on consumer goods and increased by 11.8 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 12.9 percent.
The annual rate of the Price Index for Domestic Supply was 12.5 percent in January. Compared with January 2022, prices rose by 10.8 percent on energy-related products. Prices increased by 16.2 percent on consumer goods and increased by 11.3 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 13.3 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) |
|---|---|---|
| December 2022– January 2023 |
January 2022– January 2023 |
|
| DKK | ‑1.0 | ‑6.9 |
| EUR | ‑1.0 | ‑6.9 |
| GBP | ‑0.2 | ‑4.2 |
| NOK | 0.0 | ‑2.9 |
| USD | 2.0 | ‑12.2 |
A positive number means that the Swedish krona was strengthened against that currency.
Changes in 2023
Some changes in the production of the Producer and Import Price Index will be introduced from 2023. For further information, please see:
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 February will be published on 2023-03-24 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.