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Producer and Import Price Index, April 2024

The producer price index increased in April 2024

Statistical news from Statistics Sweden 2024-05-24 8.00

The Producer Price Index rose by 0.5 percent in April compared to March 2024. Prices increased by 1.5 percent on the export market and increased by 1.2 percent on the import market. On the domestic market, prices decreased by 0.4 percent. The annual rate according to the Producer Price Index was 0.9 percent in April (-0.6 percent in March).

In brief

    • Import prices for crude oil increased in April 2024 compared to March 2024 as well as compared to April 2023.
    • Basic metal prices increased in all markets compared to March 2024.
    • Prices for electricity decreased compared to the same period last year as well as compared to previous month. This applies both for Producer Price Index and Price Index for Domestic Supply.
    • The annual rate for consumer goods in Price Index for Domestic Supply increased from 0.8 percent in March to 1.6 percent in April.
Percentage change
Total: SPIN B–E* Change,
percent (monthly)
Change,
percent (yearly)
  March 2024–
April 2024
April 2023–
April 2024
Producer Price Index, home sales ‑0.4 0.9
Export Price Index 1.5 0.8
Import Price Index 1.2 0.4
Producer Price Index 0.5 0.9
Price Index for domestic supply 0.4 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 the export and import markets, but negative on the domestic market in April. This resulted in a positive 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 a seasonal normal price decrease on district heating and lower prices on trade services of electricity. This downturn was offset by higher prices on refined petroleum products, sawn and planed wood, basic metals, food products, motor vehicles and waste collection, treatment and disposal- and materials recovery services

On the export market, the main upward contribution came from higher prices on basic metals. Prices also rose in pulp, paper and paperboard, refined petroleum products, sawn and planed wood, basic chemicals, other machinery and equiment and motor vehicles. This upturn was somewhat offset by price decreases on generation of electricity.

The main contribution to the increase on the import market came from higher prices on crude oil and basic metals. Prices also rose in food products, basic chemicals, other machinery and equipment, electrical equipment, and computer, electronic and optical products. This upturn was somewhat offset by price decreases on refined petroleum products.

Largest contribution to total change, in percentage points, March 2024 – April 2024
  Product group according to SPIN 2015 Largest contributions,
in percentage points,
to total percentage
change,
March 2024–
April 2024
    Producer
Price
Index,
home
sales
Export
Price
Index
Import
Price
Index
06.1 Crude oil     0.3
10 Food products 0.1   0.1
16.1 Sawn and planed wood 0.1 0.1  
17.1 Pulp, paper and paperboard   0.2  
19.2 Refined petroleum products 0.2 0.2 ‑0.1
20.1 Basic chemicals   0.1 0.1
24 Basic metals 0.1 0.4 0.2
26 Computer, electronic and optical products     0.1
27 Electrical equipment     0.1
28 Other machinery and equipment   0.1 0.1
29.1 Motor vehicles 0.1 0.1  
35.11A Generation of electricity   ‑0.1  
35.13 Distribution services of electricity ‑0.1    
35.14 Trade services of electricity ‑0.4    
35.3 District heating ‑0.9    
38 Waste collection, treatment and disposal-
and materials recovery services
0.1    

Monthly change between March and April, different years, in percent
Producer and Import Price Index, April 2024

Changes in the last year

The annual rate for the domestic market was 0.9 percent in April (-0.3 percent in March). The annual rate for the export market was 0.8 percent during the same period (-1.0 percent in March). On the import market, the annual rate in April was 0.4 percent (-0.6 percent in March).

The annual rate of the Producer Price Index was 0.9 percent in April. Compared with April 2023, prices fell by 4.4 percent on energy-related products. Prices increased by 3.3 percent on consumer goods and increased by 4.5 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 1.8 percent.

The annual rate of the Price Index for Domestic Supply was 0.6 percent in April. Compared with April 2023, prices fell by 3.6 percent on energy-related products. Prices increased by 1.6 percent on consumer goods and increased by 3.6 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 1.5 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)
  March 2024–
April 2024
April 2023–
April 2024
DKK ‑1.4 ‑1.8
EUR ‑1.4 ‑2.0
GBP ‑1.7 ‑4.6
NOK 0.6 0.1
USD ‑1.0 ‑1.4

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 May will be published on 2024-06-26 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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