Producer and Import Price Index, January 2021
Higher prices on electricity and basic metals affected all markets in January 2021
Statistical news from Statistics Sweden 2021-02-26 9.30
The Producer Price Index increased by 1.0 percent between December 2020 and January 2021. This was driven by a 2.0 percent increase on the domestic market, which was offset by a 0.2 percent decrease on the export market. On the import market, prices decreased by 0.1 percent. The annual rate according to the Producer Price Index was -0.8 percent in January 2021 (-2.7 percent in December 2020).
In brief
- All markets were affected by higher prices on electricity and basic metals.
- Prices fell in several product groups on the export and import markets, partly due to a strengthened Swedish currency.
- The annual rate on the domestic market turned from negative in 2020 to positive in January 2021.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| December 2020– January 2021 |
January 2020– January 2021 |
|
| Producer Price Index | 1.0 | ‑0.8 |
| Producer Price Index, home sales | 2.0 | 1.6 |
| Export Price Index | ‑0.2 | ‑3.3 |
| Import Price Index | ‑0.1 | ‑5.4 |
| Price Index for domestic supply | 0.9 | ‑2.1 |
* 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 the domestic market, while it was negative on the export and import markets from December to January.
On the domestic market, upward contributions came mainly from higher prices on trade services of electricity*, followed by waste collection services and district heating. In addition, prices rose on sawn and planed wood, water treatment and supply services, fabricated metal products (except machinery and equipment), other non-metallic mineral products and basic metals.
The main downward contribution on the export market came from price decreases on motor vehicles, trailers and semi-trailers, partly due to a strenghtened Swedish currency. Prices also fell for paper and paperboard as well as chemicals and chemical products. This downturn was somewhat offset by higher prices on electricity, basic iron, steel and ferro-alloys, sawn and planed wood and machinery and equipment.
The downturn on the import market was affected primarily by lower prices on computer, electronic and optical products, and basic pharmaceutical products and preparations. In addition, prices fell on motor vehicles, trailers and semi-trailers, soap and detergents, cleaning and polishing preparations, food products, machinery and equipment, medical and dental instruments and supplies, wearing apparel and electrical equipment. Higher prices for electricity, crude oil and basic metals somewhat offset this decrease. Prices also increased on other organic basic chemicals and plastics in primary forms.
* This product group was previously called electricity but has changed its designation to conform to the content and classification.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, December 2020– January 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.2 | |||
| 10 | Food products | ‑0.1 | |||
| 14 | Wearing apparel | ‑0.1 | |||
| 16.10 | Wood, sawn and planed | 0.1 | 0.1 | ||
| 17.12 | Paper and paperboard | ‑0.2 | |||
| 20 | Chemicals and chemical products | ‑0.1 | |||
| 20.14 | Other organic basic chemicals | 0.1 | |||
| 20.16 | Plastics in primary forms | 0.1 | |||
| 20.4 | Soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations | ‑0.1 | |||
| 21 | Basic pharmaceutical products and pharmaceutical preparations | ‑0.2 | |||
| 23.9 | Other non-metallic mineral products | 0.1 | |||
| 24 | Basic metals | 0.1 | 0.1 | ||
| 24.1 | Basic iron and steel and ferro-alloys | 0.1 | |||
| 25 | Fabricated metal products, except machinery and equipment | 0.1 | |||
| 26 | Computer, electronic and optical products | ‑0.3 | |||
| 27 | Electrical equipment | ‑0.1 | |||
| 28 | Machinery and equipment n.e.c. | 0.1 | ‑0.1 | ||
| 29 | Motor vehicles, trailers and semi-trailers | ‑0.2 | ‑0.1 | ||
| 32.5 | Medical and dental instruments and supplies | ‑0.1 | |||
| 35.11 | Electricity | 0.6 | 0.3 | ||
| 35.14 | Trade services of electricity | 0.7 | |||
| 35.3 | Steam and air conditioning supply services | 0.1 | |||
| 36 | Natural water; water treatment and supply services | 0.1 | |||
| 38.1 | Waste; waste collection services | 0.3 | |||
Changes in the last year
Price declines were apparent on a yearly basis on all markets except for the domestic market. The annual rate on the domestic market, which was negative in 2020, turned positive, and was 1.6 percent in January 2021. On the import and the export markets, the annual rates were negative, at -5.4 percent and -3.3 percent respectively.
The annual rate according to the Producer Price Index was -0.8 percent in January. Prices on energy-related products fell by 3.1 percent compared with January 2020. Prices on consumer goods and on capital goods fell by 2.3 percent and by 2.1 percent respectively. The annual rate for the Producer Price Index excluding energy-related products was -0.4 percent.
The annual rate of the Price Index for Domestic Supply was -2.1 percent in January. Prices on energy-related products fell by 9.8 percent compared with the corresponding month a year ago. Prices on capital goods and on consumer goods fell by 1.6 percent and by 1.5 percent respectively. The annual rate for the Price Index for Domestic Supply excluding energy-related products was -0.5 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) |
|---|---|---|
| December 2020– January 2021 |
January 2020– January 2021 |
|
| DKK | 1.2 | 3.2 |
| EUR | 1.4 | 3.6 |
| GBP | 1.9 | 9.0 |
| NOK | ‑0.7 | 7.8 |
| USD | 3.8 | 11.9 |
A positive number means that the Swedish krona was strengthened against that currency.
Changes in 2021
Some changes in the production of the Producer and Import Price Index will be introduced from 2021. For further information, please see:
Definitions and explanations
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 February will be published on 2021-03-25 at 09:30.
Statistical Database
More information is available in the Statistical Database
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