Producer and Import Price Index, June 2024
Price decreases at the producer and import stage in June 2024
Statistical news from Statistics Sweden 2024-07-25 8.00
The Producer Price Index decreased by 0.4 percent in June compared to May 2024. Prices decreased by 0.6 percent on the export and import market, respectively. On the domestic market, prices decreased by 0.1 percent. The annual rate according to the Producer Price Index was 0.8 percent in June (2.6 percent in May).
In brief
- The annual rate of the Producer Price Index excluding energy-related products decreased from 3.8 percent in May to 2.8 percent in June.
- Prices for refined petroleum products and basic metals decreased in all markets in June compared to May.
- Prices for waste collection and disposal recovery services continued to increase in the domestic market in June.
- The annual rate for consumer goods in Price Index for Domestic Supply decreased from 2.8 percent in May to 1.8 percent in June.
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| May 2024– June 2024 |
June 2023– June 2024 |
|
| Producer Price Index, home sales | ‑0.1 | 0.4 |
| Export Price Index | ‑0.6 | 1.0 |
| Import Price Index | ‑0.6 | 1.6 |
| Producer Price Index | ‑0.4 | 0.8 |
| Price Index for domestic supply | ‑0.4 | 1.0 |
*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 in all markets (domestic, export and import markets) in June. This resulted in a negative monthly rate of change for both Producer Price Index and Price Index for Domestic Supply during the same period.
The largest negative contribution in the domestic market came from lower prices on refined petroleum products. Prices also fell within basic metals. This downturn was offset by higher prices on trade services of electricity and waste collection and disposal recovery services.
On the export market the main negative contribution came from lower prices on basic metals. Prices also fell within refined petroleum products, chemicals and chemical products as well as paper and paperboard. This downturn was offset by higher prices on generation of electricity and other taps and valves.
The main contribution to the decrease on the import market came from lower prices on electrical equipment. Prices also fell within chemicals and chemical products, refined petroleum products, basic metals and communication equipment. This downturn was offset by higher prices on electronic components and boards.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, May 2024– June 2024 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 17.12 | Paper and paperboard | ‑0.1 | |||
| 19 | Coke and refined petroleum products | ‑0.3 | ‑0.2 | ‑0.1 | |
| 20 | Chemicals and chemical products | ‑0.1 | ‑0.1 | ||
| 24 | Basic metals | ‑0.1 | ‑0.2 | ‑0.1 | |
| 26.1 | Electronic components and boards | 0.1 | |||
| 26.3 | Communication equipment | ‑0.1 | |||
| 27 | Electrical equipment | ‑0.1 | |||
| 28.14 | Other taps and valves | 0.1 | |||
| 35.11A | Generation of electricity | 0.2 | |||
| 35.14 | Trade services of electricity | 0.4 | |||
| 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 0.4 percent in June (1.7 percent in May). The annual rate for the export market was 1.0 percent during the same period (3.3 percent in May). On the import market, the annual rate in June was 1.6 percent (3.2 percent in May).
The annual rate of the Producer Price Index was 0.8 percent in June. Compared with June 2023, prices fell by 12.1 percent on energy-related products. Prices increased by 3.3 percent on consumer goods and increased by 4.4 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 2.8 percent.
The annual rate of the Price Index for Domestic Supply was 1.0 percent in June. Compared with June 2023, prices fell by 5.5 percent on energy-related products. Prices increased by 1.8 percent on consumer goods and increased by 3.4 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 2.4 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) |
|---|---|---|
| May 2024– June 2024 |
June 2023– June 2024 |
|
| DKK | 0.1 | ‑0.9 |
| EUR | 0.1 | ‑1.1 |
| GBP | 0.0 | ‑3.0 |
| NOK | ‑0.5 | ‑3.2 |
| USD | 2.2 | ‑0.5 |
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 June will be published on 2024-08-27 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.