Producer and import price index, May 2018:
The annual rate of import prices was 9.6 percent
Statistical news from Statistics Sweden 2018-06-26 9.30
Producer prices increased by 1.4 percent between April and May. In the same period, prices increased by 3.1 percent on the import market and by 2.6 percent on the export market under the influence of a weaker Swedish krona. On the domestic market, prices increased by 0.3 percent.
Domestic supply prices, that is, producer prices on the domestic and import markets together, increased by 1.7 percent between April and May.
Changes during the last year
The Producer Price Index, that is, producer prices on the domestic and export markets together, increased by 6.3 percent from May 2017 to May 2018. In the same period, prices increased by 9.6 percent on the import market and by 7.8 percent on the export market. The prices rose in particular in the last three months, under the influence of a weaker Swedish krona and due to higher prices on crude oil. Crude oil prices rose by 42.3 percent between May 2017 and May 2018. On the export market, higher prices on pulp, paper and paperboard (17.2 percent) and basic metals (10.7 percent) contributed significantly. Domestic supply prices have increased by 7.4 percent on an annual basis. On the domestic market, prices have increased by 4.9 percent.
Changes during the last month
On the export market, continued price increases on pulp, paper and paperboard were the main contributors to the upturn, as well as higher prices on motor vehicles, trailers and semi-trailers. Machinery and equipment n.e.c., basic metals, as well as chemicals and chemical products, also contributed significantly to the upturn.
The main contribution to the increase on the import market was, again, higher crude oil prices. Crude oil prices rose by 9.2 percent on the import market between April and May 2018. Food products, basic metals, machinery and equipment n.e.c. and motor vehicles, trailers and semi-trailers also contributed substantially to the upturn. This was the largest monthly change in May on the import market since 1975, for as long as the statistics have been calculated in their current form.
This month, as well as in April, the increase was offset by lower electricity prices on all markets. The annual rate of electricity prices on the domestic market was 12.3 percent.
Total: B-E* |
Index | Change, percent (monthly) | Change, percent (yearly) |
|---|---|---|---|
| May 18, 2015=100 | April 18 - May 18 | May 17 - May 18 | |
Producer Price Index |
110.6 | 1.4 | 6.3 |
Manufacturing |
109.7 | 2.0 | 6.5 |
Producer Price Index, home sales |
108.8 | 0.3 | 4.9 |
Electricity, gas, heating |
106.1 | ‑6.5 | 6.6 |
Electricity |
116.1 | ‑7.2 | 12.3 |
Export Price Index |
112.4 | 2.6 | 7.8 |
Import Price Index |
112.7 | 3.1 | 9.6 |
Price Index for domestic supply |
110.9 | 1.7 | 7.4 |
Consumer goods |
106.5 | 1.4 | 2.1 |
Capital goods |
104.9 | 1.5 | 3.0 |
Intermediate goods |
111.5 | 1.7 | 7.5 |
Energy related goods** |
125.7 | 2.7 | 24.5 |
* Products from mining and quarrying, manufactured products, electricity, gas, heating, cooling, water and waste collection. ** Subgroups 05, 06, 19, 35 and 36: Energy minerals (mainly crude oil), coal, refined petroleum products, nuclear fuel, electricity, gas, heating, cooling and water.
Changes in exchange rates from April to May
An appreciation or depreciation of the Swedish currency has a tendency to lower or raise export and import prices in Swedish krona. According to Swedish Customs’ exchange rates, the Swedish krona depreciated against the British pound by 4.1 percent, against the Danish krona by 3.2 percent, against the euro by 3.1 percent, against the US dollar by 2.6 percent and against the Norwegian krona by 1.9 percent.
Product group according to SPIN 2015 |
Largest contributions, in percentage points, to total percentage change, April - May |
|||||
|---|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | ||||
06.1 |
Crude oil |
0.7 | ||||
10 |
Food products |
0.1 | 0.2 | |||
16.1 |
Wood, sawn and planed |
0.1 | ||||
17 |
Paper and paper products |
0.1 | ||||
17.1 |
Pulp, paper and paperboard |
0.1 | 0.3 | |||
20 |
Chemical and chemical products |
0.1 | 0.2 | |||
22 |
Rubber and plastic products |
0.1 | ||||
24 |
Basic metals |
0.2 | 0.2 | |||
25 |
Fabricated metal products, except machinery and equipment |
0.1 | 0.1 | |||
26 |
Computer, electronic and optical products |
0.1 | ||||
27 |
Electrical equipment |
0.1 | ||||
28 |
Machinery and equipment n.e.c. |
0.2 | 0.2 | |||
29 |
Motor vehicles, trailers and semi-trailers |
0.3 | 0.2 | |||
35.11 |
Electricity |
-0.3 | -0.2 | -0.1 | ||
35.3 |
Steam and air conditioning supply services |
-0.5 | ||||
38 |
Waste collection, treatment and disposal services; materials recovery services |
0.1 | ||||
Definitions and explanations
New product classification
Producer and Import Price Index is reported in accordance with both SPIN 2007 and SPIN 2015 in the statistical database. Both product classifications will be available during 2018. In 2019, price indices will only be available in accordance with SPIN 2015. Users are recommended to start using SPIN 2015. The differences between the two classifications are minor. For more information on both classifications (available only in Swedish), please see:
Standard för svensk produktindelning efter näringsgren (SPIN)
Next publishing will be
Statistics for June will be published on 2018-07-25 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.