Producer and Import Price Index, August 2021
Record annual rate for the export market in August 2021
Statistical news from Statistics Sweden 2021-09-24 9.30
The Producer Price Index rose by 2.0 percent from July to August. Prices increased by 2.2 percent on the export market and by 1.8 percent on the domestic market. On the import market, prices rose by 1.4 percent. The annual rate according to the Producer Price Index was 15.8 percent in August 2021 (13.5 percent in July).
In brief
- Prices continued to increase on all markets from July to August.
- The annual rates for the export market and the Price Index for domestic supply reached the highest levels in 30 years.
- Prices on wood products increased significantly on the domestic and export markets.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| July 2021– August 2021 |
August 2020– August 2021 |
|
| Producer Price Index, home sales | 1.8 | 14.2 |
| Export Price Index | 2.2 | 17.9 |
| Import Price Index | 1.4 | 11.9 |
| Producer Price Index | 2.0 | 15.8 |
| Price Index for domestic supply | 1.5 | 12.9 |
*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 from July to August.
On the domestic market, the main upward contribution came from rising prices on trade services of electricity, followed by wood and products of wood. In addition, prices rose on basic iron and steel, fabricated metal products, and machinery and equipment.
On the export market, the main upward contribution came from rising prices on wood and products of wood as well as basic iron and steel. Prices also rose on electricity, machinery and equipment, pulp, paper and paperboard, other fabricated metal products, and rubber and plastic products. This upturn was somewhat offset by falling prices on other organic basic chemicals.
On the import market, the main upward contribution came from rising prices on chemicals and chemical products as well as basic metals, followed by machinery and equipment, computers and peripheral equipment, and electricity. Prices also increased on natural gas, parts and accessories for motor vehicles, electrical equipment, paper and paper products and other fabricated metal products. The upturn between July and August was somewhat offset by falling prices on crude oil and pharmaceutical preparations.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, July 2021– August 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑0.2 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.1 | |||
| 16 | Wood and products of wood and cork | 0.3 | |||
| 16.1 | Wood, sawn and planed | 0.5 | |||
| 17 | Paper and paper products | 0.1 | |||
| 17.1 | Pulp, paper and paperboard | 0.2 | |||
| 20 | Chemicals and chemical products | 0.3 | |||
| 20.14 | Other organic basic chemicals | ‑0.1 | |||
| 21.2 | Pharmaceutical preparations | ‑0.1 | |||
| 22 | Plastic packing goods | 0.1 | |||
| 24 | Basic metals | 0.2 | |||
| 24.1 | Basic iron and steel and ferro-alloys | 0.2 | 0.4 | ||
| 25 | Fabricated metal products, except machinery and equipment | 0.2 | |||
| 25.9 | Other fabricated metal products | 0.1 | 0.1 | ||
| 26.2 | Computers and peripheral equipment | 0.1 | |||
| 27 | Electrical equipment | 0.1 | |||
| 28 | Machinery and equipment n.e.c. | 0.1 | 0.2 | 0.1 | |
| 29.3 | Parts and accessories for motor vehicles | 0.1 | |||
| 35.11A | Generation of electricity | 0.3 | 0.1 | ||
| 35.14 | Trade services of electricity | 0.5 | |||
Changes in the last year
The annual rate for the export market and the domestic market reached the highest levels in 30 years. In August, the annual rate was 17.9 percent for the export market and 14.2 percent for the domestic market. The annual rate on the import market was 11.9 percent, the highest yearly rate since October 2018.
The annual rate for the Producer Price Index was 15.8 percent in August 2021. Compared with August 2020, prices rose by 31.8 percent on energy-related products, by 3.4 percent on capital goods, and by 1.5 percent on consumer goods. The annual rate for the Producer Price Index excluding energy-related products was 13.7 percent.
The annual rate of the Price Index for Domestic Supply was 12.9 percent in August, which is the highest yearly rate in 30 years. Prices on energy-related products increased by 34.2 percent compared with the corresponding month a year ago. Prices on capital goods increased by 2.4 percent and prices on consumer goods increased by 2.0 percent. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 9.6 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) |
|---|---|---|
| July 2021– August 2021 |
August 2020– August 2021 |
|
| DKK | ‑1.1 | 0.1 |
| EUR | ‑1.1 | 0.2 |
| GBP | 0.1 | ‑5.1 |
| NOK | 2.7 | 0.2 |
| USD | ‑2.6 | 2.4 |
A positive number means that the Swedish krona was strengthened against that currency.
Definitions and explanations
Trade services of electricity was previously called electricity but has changed its designation to conform to the content and classification.
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 September will be published on 2021-10-26 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.