Producer and import price index, August 2019
Price declines on all markets between July and August
Statistical news from Statistics Sweden 2019-09-26 9.30
The Producer Price Index decreased by 0.5 percent between July and August 2019. In the same period, prices on the import market decreased by 1.2 percent. The export and domestic markets also recorded price declines of 0.9 percent and 0.2 percent, respectively. Domestic supply prices, that is, producer prices on the domestic market and import prices together, decreased by 0.7 percent from July to August.
Changes during the last month
The main contributor to the downturn on the import market was lower prices for crude oil. The decrease on the export market was mainly due to lower prices for machinery and equipment, paper and paper products as well as chemicals and chemical products. Price declines in basic metals and paper and paper products contributed to the downward trend on the domestic market. Yet, on both the export market and the domestic market the declines were dampened by higher prices on electricity.
Changes during the last year
The Producer Price Index annual rate in August was 1.4 percent (2.0 percent in July). On the export and import market, the annual rates were 1.4 percent and -0.2 percent respectively. The import market has not recorded a negative annual rate since September 2016. The annual rate of the domestic supply prices was 0.6 percent and 1.4 percent on the domestic market.
| Total: B–E* | Index | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|---|
| August 2019, 2015=100 |
July 2019– August 2019 |
August 2018– August 2019 |
|
| Producer Price Index | 114.1 | ‑0.5 | 1.4 |
| Manufacturing | 112.1 | ‑0.7 | 1.3 |
| Producer Price Index, home sales | 112.7 | ‑0.2 | 1.4 |
| Electricity, gas, heating | 119.9 | 1.6 | 2.0 |
| Electricity | 138.5 | 3.7 | ‑12.7 |
| Export Price Index | 115.5 | ‑0.9 | 1.4 |
| Import Price Index | 113.8 | ‑1.2 | ‑0.2 |
| Price Index for domestic supply | 113.4 | ‑0.7 | 0.6 |
| Consumer goods | 110.0 | ‑0.4 | 3.4 |
| Capital goods | 108.1 | ‑0.2 | 2.6 |
| Intermediate goods | 114.2 | ‑0.8 | 1.2 |
| Energy related goods** | 125.6 | ‑2.0 | ‑6.2 |
* 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
An appreciation or depreciation of the Swedish currency lowers or raises export and import prices in Swedish krona. According to Swedish Customs’ exchange rates, from July to August, the Swedish krona appreciated against the British pound by 1.6 percent, against the US dollar by 0.7 percent, the Norwegian krona by 0.1 percent, and against the euro and the Danish krona by 1.2 percent.
In the last year, the Swedish krona has weakened, mainly against the US dollar, by 6.9 percent, but also against the euro by 2.6 percent, against the Danish krona by 2.4 percent, against the British pound by 1.7 percent and against the Norwegian krona by 0.7 percent.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, July 2019– August 2019 | |||||
|---|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | ||||
| 06.1 | Crude oil | ‑0.6 | ||||
| 16 | Wood and of products of wood and cork, except furniture; articles of straw and plaiting materials | ‑0.1 | ||||
| 17 | Paper and paper products | ‑0.1 | ‑0.1 | |||
| 20 | Chemicals and chemical products | ‑0.1 | ‑0.1 | |||
| 24 | Basic metals | ‑0.1 | 0.1 | |||
| 28 | Machinery and equipment n.e.c. | ‑0.1 | ‑0.1 | |||
| 29 | Motor vehicles, trailers and semi-trailers | ‑0.1 | ||||
| 35.11 | Electricity | 0.2 | 0.1 | |||
Next publishing will be
Statistics for September will be published on 2019-10-25 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.