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Producer and Import Price Index, November 2022

Annual rate for food products on the import market highest in 30 years in November 2022

Statistical news from Statistics Sweden 2022-12-22 8.00

The Producer Price Index rose by 2.0 percent in November compared to October 2022. Prices increased by 1.4 percent on the export market and increased by 2.6 percent on the domestic market. On the import market, prices decreased by 0.3 percent. The annual rate according to the Producer Price Index was 19.5 percent in November (18.7 percent in October).

In brief

  • Domestic market and export market were affected by increasing prices on electricity.
  • The annual rate for food products on the import market was 28.6 percent in November.
  • The annual rate for consumer goods in Price Index for Domestic Supply continued to rise and was 18.2 percent in November (18.1 percent in October).
Percentage change
Total: SPIN B–E* Change,
percent (monthly)
Change,
percent (yearly)
  October 2022–
November 2022
November 2021–
November 2022
Producer Price Index, home sales 2.6 17.5
Export Price Index 1.4 21.5
Import Price Index ‑0.3 25.0
Producer Price Index 2.0 19.5
Price Index for domestic supply 1.1 21.4

*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 the domestic and export markets, but negative on the import market in November. This resulted in positive monthly rates of change for both Producer Price Index and 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, basic metals, paper and paper products as well as fabricated metal products. This upturn was offset to some extent by price decreases on waste collection, treatment and disposal- and materials recovery services.

On the export market the main upward contribution came from higher prices on generation of electricity. Prices also rose in paper and paperboard, motor vehicles, trailers and semi-trailers as well as other machinery and equipment. This upturn was somewhat offset by price decreases on basic iron and steel, pulp, other organic basic chemicals and also sawn and planed wood.

The main contribution to the decrease on the import market came from lower prices on generation of electricity. Prices also fell within basic iron and steel, communication equipment, natural gas, other chemical products and pharmaceutical preparations. This downturn was offset by higher prices on crude oil, other inorganic basic chemicals, food products, other machinery and equipment, electrical equipment and other non-ferrous metal.

Largest contribution to total change, in percentage points, October – November 2022
  Product group according to SPIN 2015 Largest contributions,
in percentage points,
to total percentage
change,
October 2022–
November 2022
    Producer
Price
Index,
home
sales
Export
Price
Index
Import
Price
Index
06.1 Crude oil     0.1
06.2 Natural gas     ‑0.1
10 Food products     0.1
16.1 Sawn and planed wood   ‑0.1  
17 Paper and paper products 0.1    
17.11 Pulp   ‑0.1  
17.12 Paper and paperboard   0.1  
20.13 Other inorganic basic chemicals     0.1
20.14 Other organic basic chemicals   ‑0.1  
20.59 Other chemical products n.e.c.     ‑0.1
21.2 Pharmaceutical preparations     ‑0.1
24 Basic metals 0.1    
24.1 Basic iron and steel   ‑0.1 ‑0.1
24.45 Other non-ferrous metal     0.1
25 Fabricated metal products 0.1    
26.3 Communication equipment     ‑0.1
27 Electrical equipment     0.1
28 Other machinery and equipment   0.1 0.1
29 Motor vehicles, trailers and semi-trailers   0.1  
35.11A Generation of electricity   1.5 ‑0.2
35.13 Distribution services of electricity 0.1    
35.14 Trade services of electricity 1.9    
35.3 District heating 0.8    
38 Waste collection, treatment and disposal- and materials recovery services ‑0.1    

Monthly change between October and November, different years, in percent
Namnlös

Changes in the last year

The annual rate for the domestic market was 17.5 percent in November (17.0 percent in October). The annual rate for the export market was 21.5 percent during the same period (20.3 percent in October). On the import market, the annual rate in November was 25.0 percent (25.1 percent in October). The annual rate for food products on the import market was 28.6 percent, the highest level in 30 years.

The annual rate of the Producer Price Index was 19.5 percent in November. Compared with November 2021, prices rose by 50.5 percent on energy-related products. Prices increased by 16.4 percent on consumer goods and increased by 13.9 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 14.1 percent.

The annual rate of the Price Index for Domestic Supply was 21.4 percent in November. Compared with November 2021, prices rose by 48.7 percent on energy-related products. Prices increased by 18.2 percent on consumer goods, the highest level in 30 years, and increased by 12.5 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 15.4 percent.

Percentage change, compared with the corresponding month a year ago
Namnlös

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.

Evolution of the Swedish krona exchange rate against the most common trade weighted currencies
Currency Change,
percent (monthly)
Change,
percent (yearly)
  October 2022–
November 2022
November 2021–
November 2022
DKK ‑0.4 ‑8.3
EUR ‑0.5 ‑8.2
GBP ‑0.7 ‑5.3
NOK 0.9 ‑2.3
USD ‑1.3 ‑22.5

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 December will be published on 2023-01-25 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.

Statistical agency

Statistics Sweden

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priser@scb.se

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