Producer and import price index, December 2018
Lower crude oil prices led to lower import market prices
Statistical news from Statistics Sweden 2019-01-25 9.30
Producer prices decreased by 0.6 percent between November and December 2018. In the same period, prices decreased on the import and export market by 2.4 percent and 1.3 percent, respectively. Prices decreased by 0.1 percent on the domestic market. Domestic supply prices, that is, producer prices on the domestic and import markets together, decreased by 1.2 percent between November and December.
Changes during the last month
As in November, lower crude oil prices contributed to the decline in the import market. Crude oil prices fell by 16.1 percent from November to December (-16.0 percent from October to November). On the export market, mainly lower prices on pulp, paper and paperboard contributed to the decline together with price decreases on sawn and planed wood, plastics in primary forms and machinery and equipment. On the domestic market, a seasonally normal price increase on district heating contributed to the rise with an increase of 10.1 percent.
Changes during the last year
The Producer Price Index, that is, producer prices on the domestic and export markets together, increased by 5.6 percent from December 2017 to December 2018. In the same period, prices increased by 6.0 percent on the export market and by 4.2 percent on the import market. In December, the annual rate on the domestic market was 5.1 percent.
| Total: B-E* | Index | Change, percent (monthly) | Change, percent (yearly) |
|---|---|---|---|
| December 18, 2015=100 | November 18 - December 18 | December 17 - December 18 | |
| Producer Price Index | 112.8 | ‑0.6 | 5.6 |
| Manufacturing | 110.1 | ‑0.9 | 4.9 |
| Producer Price Index, home sales | 112.9 | ‑0.1 | 5.1 |
| Electricity, gas, heating | 133.3 | 3.3 | 15.0 |
| Electricity | 153.3 | 0.5 | 43.3 |
| Export Price Index | 112.6 | ‑1.3 | 6.0 |
| Import Price Index | 111.0 | ‑2.4 | 4.2 |
| Price Index for domestic supply | 112.0 | ‑1.2 | 4.8 |
| Consumer goods | 107.0 | 0.0 | 2.2 |
| Capital goods | 105.8 | ‑0.2 | 3.4 |
| Intermediate goods | 113.3 | ‑0.6 | 6.5 |
| Energy related goods** | 127.3 | ‑5.1 | 7.9 |
* 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 has a tendency to lower or raise export and import prices in Swedish krona. According to Swedish Customs’ exchange rates from November to December, the Swedish krona appreciated against the Norwegian krona by 2.9 percent, against the British pound by 1.4 percent, against the euro and the Danish krona by 0.4 percent. The Swedish krona also appreciated against the US dollar by 0.3 percent. During the last year, the Swedish krona has weakened mainly against the US dollar by 7.2 percent, but also against the euro by 4.0 percent, against the Danish krona by 3.7 percent, against the British pound by 3.6 percent and against the Norwegian krona by 3.1 percent.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, November - December | |||||
|---|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | ||||
| 06.1 | Crude oil | ‑1.3 | ||||
| 16.1 | Wood, sawn and planed | ‑0.1 | ||||
| 17.1 | Pulp, paper and paperboard | ‑0.1 | ||||
| 20.14 | Other organic basic chemicals | ‑0.1 | ||||
| 20.16 | Plastics in primary forms | ‑0.1 | ||||
| 20.5 | Other chemical products | ‑0.1 | ||||
| 24 | Basic metals | ‑0.1 | ||||
| 26 | Computer, electronic and optical products | ‑0.1 | ||||
| 28 | Machinery and equipment n.e.c. | ‑0.1 | ||||
| 35.3 | Steam and air conditioning supply services | 0.4 | ||||
| 38.1 | Waste; waste collection services | ‑0.1 | ||||
Definitions and explanations
New product classification
Please note that this is the last time that indexes in accordance with SPIN 2007 are published in the statistical database. From 2019 onwards, price indexes 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 on January will be published on 2019-02-28 at 09:30 am.
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.