Producer and Import Price Index, November 2024
Price increases in all markets in November 2024
Statistical news from Statistics Sweden 2024-12-20 8.00
The Producer Price Index rose by 3.1 percent in November compared to October 2024. Prices increased by 2.1 percent on the export market and increased by 4.0 percent on the domestic market. On the import market, prices rose by 1.1 percent. The annual rate according to the Producer Price Index was 0.3 percent in November (-1.3 percent in October).
In brief
- Prices for refined petroleum products increased on all markets in November compared to October 2024
- Energy related products in the Producer Price Index rose by 21.0 percent in November compared to October 2024, but was 10.0 percent lower than in November 2023.
- The annual rate of the Producer Price Index excluding energy-related products increased from 0.5 percent in October to 2.2 percent in November.
- The annual rate for consumer goods in Price Index for Domestic Supply increased from 0.4 percent in October to 2.3 percent in November.
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| October 2024– November 2024 |
November 2023– November 2024 |
|
| Producer Price Index, home sales | 4.0 | 0.8 |
| Export Price Index | 2.1 | ‑0.3 |
| Import Price Index | 1.1 | ‑1.9 |
| Producer Price Index | 3.1 | 0.3 |
| Price Index for domestic supply | 2.5 | ‑0.6 |
*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 all markets in November. This resulted in a positive monthly rate of change for both the Producer Price Index and the Price Index for Domestic Supply during the same period.
The main upward contribution on the domestic market came from higher prices on trade services of electricity. Prices also rose in district heating, refined petroleum products, food products, electrical equipment and distribution services of electricity.
On the export market the main upward contribution came from higher prices on generation of electricity. Prices also rose in basic metals, motor vehicles, food products, refined petroleum products, paper and paperboard, other machinery and equipment as well as on computer, electronic and optical products.
The main contribution to the increase on the import market came from higher prices on refined petroleum products, crude oil and natural gas as well as on computer, electronic and optical products. Prices also rose in generation of electricity, basic chemicals, food products and basic metals.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, October 2024– November 2024 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06 | Crude oil and natural gas | 0.2 | |||
| 10 | Food products | 0.1 | 0.1 | 0.1 | |
| 17.12 | Paper and paperboard | 0.1 | |||
| 19.2 | Refined petroleum products | 0.3 | 0.1 | 0.2 | |
| 20.1 | Basic chemicals | 0.1 | |||
| 24 | Basic metals | 0.2 | 0.1 | ||
| 26 | Computer, electronic and optical products | 0.1 | 0.2 | ||
| 27 | Electrical equipment | 0.1 | |||
| 28 | Other machinery and equipment | 0.1 | |||
| 29.1 | Motor vehicles | 0.2 | |||
| 35.11A | Generation of electricity | 0.9 | 0.1 | ||
| 35.13 | Distribution services of electricity | 0.1 | |||
| 35.14 | Trade services of electricity | 2.7 | |||
| 35.3 | District heating | 0.8 | |||
Changes in the last year
The annual rate for the domestic market was 0.8 percent in November (0.9 percent in October). The annual rate for the export market was -0.3 percent during the same period (-3.4 percent in October). On the import market, the annual rate in November was -1.9 percent (-5.0 percent in October).
The annual rate of the Producer Price Index was 0.3 percent in November. Compared with November 2023, prices fell by 10.0 percent on energy-related products. Prices increased by 3.7 percent on consumer goods and increased by 1.5 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 2.2 percent.
The annual rate of the Price Index for Domestic Supply was -0.6 percent in November. Compared with November 2023, prices fell by 11.7 percent on energy-related products. Prices increased by 2.3 percent on consumer goods and increased by 2.1 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 1.9 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) |
|---|---|---|
| October 2024– November 2024 |
November 2023– November 2024 |
|
| DKK | ‑0.3 | 1.3 |
| EUR | ‑0.3 | 1.4 |
| GBP | ‑1.6 | ‑2.8 |
| NOK | ‑0.1 | 3.4 |
| USD | ‑3.4 | 3.5 |
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 December will be published on 2025-01-24 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.