Producer and Import Price Index, July 2021
Record annual rate for the Producer Price Index in July 2021
Statistical news from Statistics Sweden 2021-08-26 9.30
The Producer Price Index rose by 2.7 percent from June to July. Prices increased by 2.8 percent on the export market and by 2.6 percent on the domestic market. On the import market, prices rose by 1.9 percent. The annual rate according to the Producer Price Index was 13.5 percent in July 2021 (9.6 percent in June).
In brief
- Prices continued to increase on all markets from June to July.
- The annual rates for the domestic market and the Producer Price Index reached the highest levels in 30 years.
- Prices on wood products increased significantly on the domestic and export markets.
- Prices for electricity and basic metals rose on all markets.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| June 2021– July 2021 |
July 2020– July 2021 |
|
| Producer Price Index, home sales | 2.6 | 13.5 |
| Export Price Index | 2.8 | 13.6 |
| Import Price Index | 1.9 | 8.9 |
| Producer Price Index | 2.7 | 13.5 |
| Price Index for domestic supply | 2.2 | 11.1 |
*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 all markets from June to July and prices increased in several product groups, such as basic metals, fabricated metal products and electricity. Rising prices for wood products also contributed to the increase on the domestic and export markets.
On the domestic market, the main upward contribution came from rising prices on trade services of electricity, followed by wood and products of wood and fabricated metal products. In addition, prices rose on basic metals, paper and paper products, plastic products, dairy and cheese products, basic chemicals and electrical equipment. This upturn was somewhat offset by falling prices on district heating.
On the export market, the main upward contribution came from rising prices on wood and products of wood. Prices also rose on basic metals, motor vehicles, trailers and semi-trailers, paper and paper products, electricity, basic chemicals, machinery and equipment and fabricated metal products, which led to upward contributions.
The main upward contribution on the import market came from basic metals, for which prices increased from June to July. Prices also increased on crude oil, electricity, basic chemicals, natural gas, pharmaceutical preparations, computers and peripheral equipment, fabricated metal products and food products.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, June 2021– July 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.2 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.1 | |||
| 10 | Food products | 0.1 | |||
| 10.51 | Dairy and cheese products | 0.1 | |||
| 16 | Wood and products of wood and cork | 0.6 | 0.7 | ||
| 17 | Paper and paper products | 0.1 | 0.3 | ||
| 20.1 | Basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms | 0.1 | 0.2 | 0.1 | |
| 21.2 | Pharmaceutical preparations | 0.1 | |||
| 22.2 | Plastic products | 0.1 | |||
| 24 | Basic metals | 0.3 | 0.6 | 0.5 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.4 | 0.1 | 0.1 | |
| 26.2 | Computers and peripheral equipment | 0.1 | |||
| 27 | Electrical equipment | 0.1 | |||
| 28 | Machinery and equipment n.e.c. | 0.1 | |||
| 29 | Motor vehicles, trailers and semi-trailers | 0.3 | |||
| 35.11A | Electricity | 0.2 | 0.1 | ||
| 35.14 | Trade services of electricity | 0.8 | |||
| 35.3 | Steam and air conditioning supply services | ‑0.1 | |||
Changes in the last year
On a yearly basis, prices increased on all markets in July 2021, and the annual rate for the domestic market and the Producer Price Index reached the highest levels in 30 years. The annual rate for both the domestic market and the Producer Price Index was 13.5 percent.
The annual rates on the import and export markets were 8.9 percent and 13.6 percent respectively. These rates were not record highs, but were still higher than in June 2021. In the past year, prices have increased in a number of product groups. The prices on electricity, which have increased by 751.7 percent on the import market, are particularly notable. Another example on the same market is natural gas prices, which have increased by 395.6 percent.
The annual rate of energy-related products for the Producer Price Index was 37.9 percent in July 2021. Compared with July 2020, prices on capital goods and consumer goods increased by 1.1 percent and by 0.1 percent, respectively. The annual rate for the Producer Price Index excluding energy-related products was 10.5 percent.
The annual rate of the Price Index for Domestic Supply was 11.1 percent in July 2021. Prices on energy-related products increased by 37.7 percent compared with the corresponding month a year ago. Prices on capital goods remained unchanged, while prices on consumer goods increased by 1.3 percent. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 7.2 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) |
|---|---|---|
| June 2021– July 2021 |
July 2020– July 2021 |
|
| DKK | 0.1 | 3.4 |
| EUR | 0.1 | 3.7 |
| GBP | ‑0.8 | ‑0.8 |
| NOK | 1.2 | ‑1.7 |
| USD | ‑2.4 | 9.6 |
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 August will be published on 2021-09-24 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.