Producer and Import Price Index, December 2021
Higher electricity prices the main contribution to the upturn for all markets in December 2021
Statistical news from Statistics Sweden 2022-01-26 8.00
The Producer Price Index rose by 2.8 percent from November to December. Prices increased by 1.5 percent on the export market and by 1.6 percent on the import market. On the domestic market, prices increased by 4.0 percent. The annual rate according to the Producer Price Index was 20.1 percent in December 2021 (18.1 percent in November).
In brief
- The highest annual rates of 30 years for all markets in December.
- On the domestic market, the main upward contribution came from trade services of electricity, which contributed with 3.6 percent to the upturn.
- Lower prices on crude oil on the import market.
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| November 2021– December 2021 |
December 2020– December 2021 |
|
| Producer Price Index, home sales | 4.0 | 21.0 |
| Export Price Index | 1.5 | 18.9 |
| Import Price Index | 1.6 | 18.2 |
| Producer Price Index | 2.8 | 20.1 |
| Price Index for domestic supply | 2.7 | 19.6 |
*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 all markets from November to December.
Higher prices for trade services of electricity and for district heating accounted for the largest positive contributions on the domestic market. Prices also rose on materials recovery services, food products and basic metals. The upturn was offset somewhat by lower prices on sawn and planed wood, fabricated metal products (except machinery and equipment) and electrical equipment.
On the export market, the main upward contribution came from rising prices on electricity. Prices also rose on basic metals, motor vehicles, trailers and semi-trailers, machinery and equipment as well as pulp, paper and paperboard. This upturn was mainly offset by lower prices on sawn and planed wood.
On the import market, the main upward contribution came from rising prices on electricity as well as natural gas and basic chemicals, fertilisers and nitrogen compounds. Prices also rose on computers and peripheral equipment, food products, electrical equipment, basic metals, machinery and equipment and motor vehicles, trailers and semi-trailers. This upturn was mainly offset by lower prices on crude oil and pharmaceuticals.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, November 2021– December 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑0.4 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.3 | |||
| 10 | Food products | 0.1 | 0.1 | ||
| 16.1 | Wood, sawn and planed | ‑0.1 | ‑0.1 | ||
| 17.1 | Pulp, paper and paperboard | 0.1 | |||
| 20.1 | Basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms | 0.2 | |||
| 21.2 | Pharmaceutical preparations | ‑0.1 | |||
| 24 | Basic metals | 0.1 | 0.2 | 0.1 | |
| 25 | Fabricated metal products, except machinery and equipment | ‑0.1 | |||
| 26.2 | Computers and peripheral equipment | 0.2 | |||
| 27 | Electrical equipment | ‑0.1 | 0.1 | ||
| 28 | Machinery and equipment n.e.c. | 0.2 | 0.1 | ||
| 29 | Motor vehicles, trailers and semi-trailers | 0.2 | |||
| 29.1 | Motor vehicles | 0.1 | |||
| 35.11A | Generation of electricity | 0.2 | 1.8 | 0.6 | |
| 35.14 | Trade services of electricity | 3.6 | |||
| 35.3 | Steam and air conditioning supply services | 0.4 | |||
| 38.3 | Materials recovery services; secondary raw materials | 0.1 | |||
Changes in the last year
In December, the highest annual rates were noted for all markets in the last 30 years, based on current methods.
The annual rate for the domestic market was 21.0 percent in December (18.1 percent in November). The annual rate for the export market was 18.9 percent during the same period (18.1 percent in November). On the import market, the annual rate in December was 18.2 percent (17.2 percent in November).
The annual rate of the Producer Price Index was 20.1 percent in December 2021. Compared with December 2020, prices rose by 67.3 percent on energy-related products, by 5.3 percent on capital goods, and by 4.0 percent on consumer goods. The annual rate of the Producer Price Index excluding energy-related products was 13.3 percent.
The annual rate of the Price Index for Domestic Supply was 19.6 percent in December. Prices on energy-related products increased by 63.4 percent compared with the corresponding month a year ago. Prices increased by 4.5 percent on consumer goods and by 4.4 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 12.3 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) |
|---|---|---|
| November 2021– December 2021 |
December 2020– December 2021 |
|
| DKK | ‑0.3 | 1.5 |
| EUR | ‑0.2 | 1.7 |
| GBP | ‑0.5 | ‑4.4 |
| NOK | 0.8 | ‑6.5 |
| USD | ‑2.9 | ‑3.2 |
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 January will be published on 2022-02-25 at 08:00.
Statistical Database
More information is available in the Statistical Database
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