Producer and import price index, February 2019
Continued rise in cruid oil price increases the import market
Statistical news from Statistics Sweden 2019-03-26 9.30
Producer prices increased by 0.2 percent between January and February 2019. In the same period, prices increased on the import and export market by 0.9 percent and 0.6 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, increased by 0.4 percent between January and February.
Changes in the last month
On the import market, crude oil price once again contributed to the upturn. This time by 7.6 percent between January and February. This means the crude oil price has increased by 14.6 percent during the two first months of the year. Lower prices on electricity was the main contributor to the downturn on the domestic market. On the export market, higher prices on motor vehicles, trailers and semi-trailers and basic precious and other non-ferrous metals contributed to the upturn. The upturn was offset by lower prices on electricity and plastics in primary forms.
Changes in the last year
The Producer Price Index, that is, producer prices on the domestic and export markets together, increased by 6.3 percent from February 2018 to February 2019. In the same period, prices increased by 7.6 percent on the export market and by 6.4 percent on the import market. In February, the annual rate on the domestic market was 4.9 percent. The domestic supply prices have increased by 5.7 percent since February last year.
| Total: B–E* | Index | Change, percent (monthly) | Change, percent (yearly) |
|---|---|---|---|
| February 2019, 2015=100 | January 2019– February 2019 | February 2018– February 2019 | |
|
Producer Price Index
|
113.9 | 0.2 | 6.3 |
|
Manufacturing
|
111.3 | 0.6 | 6.0 |
|
Producer Price Index, home sales
|
113.7 | ‑0.1 | 4.9 |
|
Electricity, gas, heating
|
134.8 | ‑3.4 | 10.4 |
|
Electricity
|
153.9 | ‑7.7 | 25.2 |
|
Export Price Index
|
114.1 | 0.6 | 7.6 |
|
Import Price Index
|
112.4 | 0.9 | 6.4 |
|
Price Index for domestic supply
|
113.1 | 0.4 | 5.7 |
|
Consumer goods
|
107.2 | 0.0 | 3.4 |
|
Capital goods
|
106.4 | ‑0.1 | 4.2 |
|
Intermediate goods
|
113.3 | 0.3 | 5.7 |
|
Energy related goods**
|
133.2 | 1.9 | 12.3 |
* 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 raise export and import prices in Swedish krona. According to Swedish Customs’ exchange rates, from January to February, the Swedish krona appreciated against the euro and the Danish krona by 0.7 percent and against the US dollar by 0.5 percent. At the same time, the Swedish krona depreciated against the British pound by 2.8 percent and against the Norwegian krona by 1.1 percent.
In the last year, the Swedish krona has weakened mainly against the US dollar by 13.1 percent, but also against the British pound by 4.9 percent, against the euro by 4.3 percent, against the Danish krona by 4.0 percent and against the Norwegian krona by 3.0 percent.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, January 2019– February 2019 | ||||
|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | |||
|
06.1
|
Crude oil
|
0.5 | |||
|
17.12
|
Paper and paperboard
|
0.1 | |||
|
20.14
|
Other organic basic chemicals
|
0.1 | |||
|
20.16
|
Plastics in primary forms
|
-0.1 | |||
|
21.2
|
Pharmaceutical preparations
|
0.1 | |||
|
24.4
|
Basic precious and other non-ferrous metals
|
0.1 | |||
|
26.3
|
Communication equipment
|
-0.1 | |||
|
29
|
Motor vehicles, trailers and semi-trailers
|
0.1 | |||
|
33.1
|
Repair services of fabricated metal products, machinery and equipment
|
0.1 | |||
|
35.11
|
Electricity
|
-0.4 | -0.2 | -0.1 | |
|
35.3
|
Steam and air conditioning supply services
|
-0.1 | |||
Definitions and explanations
New product classification
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 March will be published on 2019-04-26 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.