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Producer and import price index, February 2020

Prices dropped on all markets in February 2020

Statistical news from Statistics Sweden 2020-03-25 9.30

The Producer Price Index decreased by 0.6 percent between January and February. In the same period, prices decreased by 0.9 percent on the import market and by 0.4 percent on the export market. However, a weakened Swedish krona dampened the drop in prices on the import and export markets.

Prices on the domestic market decreased by 0.6 percent. Domestic supply prices, that is, producer prices on the domestic market and import prices together, decreased by 0.8 percent.

Changes in the last month

On the import market, the main downward contributions included lower prices for crude oil and electricity. The decline in energy products was offset by higher prices for motor vehicles, trailers and semi-trailers, as well as machinery and equipment and food products.

Lower prices for electricity, basic metals, paper and paper products contributed downward on the export market. However, higher prices for trailers and semi-trailers and machinery and equipment offset this decrease.

Lower prices for electricity also accounted for downward contributions on the domestic market. This decline was offset by higher prices for food products, as well as machinery and equipment.

Changes in the last year

The Producer Price Index annual rate in Febuary was -1.2 percent (-0.4 percent in January). The annual rate was 0.4 percent on the import market and -1.3 percent on the export market. The annual rate was -1.1 percent on the domestic market and -0.4 percent for domestic supply prices.

Total: B–E* Index Change,
percent (monthly)
Change,
percent (yearly)
  February 2020,
2015=100
January 2020–
February 2020
February 2019–
February 2020
Producer Price Index 112.5 ‑0.6 ‑1.2
Manufacturing 111.5 ‑0.2 0.2
Producer Price Index, home sales 112.4 ‑0.6 ‑1.1
Electricity, gas, heating 117.4 ‑4.2 ‑12.9
Electricity 102.4 ‑10.4 ‑33.5
Export Price Index 112.6 ‑0.4 ‑1.3
Import Price Index 112.9 ‑0.9 0.4
Price Index for domestic supply 112.7 ‑0.8 ‑0.4
Consumer goods 112.1 0.8 4.6
Capital goods 108.6 0.6 2.1
Intermediate goods 113.0 0.0 ‑0.3
Energy related goods** 120.4 ‑6.6 ‑9.6

* 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 January to February, the Swedish krona depreciated by 1.7 percent against the Norwegan krona, by 1.4 percent against the pound sterling, by 1.2 percent against the US dollar and by 0.8 percent against the euro and the Danish krona.

In the last year, the Swedish krona depreciated against the pound sterling by 6.0 percent, against the US dollar by 5.5 percent, against the euro by 2.8 percent, against the Danish krona by 2.7 percent and against the Norwegian krona by 0.6 percent.

Product group according to SPIN 2015   Largest contributions,
in percentage points,
to total percentage
change,
January 2020–
February 2020
    Producer
Price
Index,
home
sales
Export
Price
Index
Import
Price
Index
06.1 Crude oil     ‑1.1
10 Food products 0.1   0.1
17.12 Paper and paper products   ‑0.1  
21 Basic pharmaceutical products and pharmaceutical preparations     0.1
24 Basic metals   ‑0.1  
26 Computer, electronic and optical products     0.1
28 Machinery and equipment n.e.c. 0.1 0.1 0.1
29 Motor vehicles, trailers and semi-trailers   0.1 0.1
35.11 Electricity ‑0.5 ‑0.2 ‑0.2
35.13 Distribution services of electricity ‑0.1    

Next publishing will be

Statistics for March will be published on 2020-04-24 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.

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