Producer and Import Price Index, March 2021
Annual rate positive again for the export and the import market in March 2021
Statistical news from Statistics Sweden 2021-04-27 9.30
The Producer Price Index increased by 1.1 percent between February and March. The export market increased by 1.5 percent and the domestic market increased by 0.7 percent. On the import market, prices increased by 0.9 percent. The annual rate according to the Producer Price Index was 3.8 percent in March 2021 (1.3 percent in February).
In brief
- Highest annual rate on the domestic market since November 2018.
- Positive annual rates for the export market and the import market.
- All markets were affected by higher prices on chemicals and chemical products.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| February 2021– March 2021 |
March 2020– March 2021 |
|
| Producer Price Index | 1.1 | 3.8 |
| Producer Price Index, home sales | 0.7 | 5.3 |
| Export Price Index | 1.5 | 2.1 |
| Import Price Index | 0.9 | 2.0 |
| Price Index for domestic supply | 0.9 | 3.7 |
Changes in the last month
The monthly rate of change was positive on all markets from February to March.
On the domestic market, upward contributions came mainly from higher prices on waste and waste collection services, wood and products of wood, chemicals and chemical products, basic metals, fabricated metal products, (except machinery and equipment) and pulp, paper and paperboard. This upturn was somewhat offset by lower prices on trade services of electricity and steam and air conditioning supply services.
The main upward contributions on the export market came from higher prices on pulp, paper and paperboard, basic iron and steel and ferro-alloys, wood and products of wood, chemicals and chemical products, and waste and waste collection services. Lower prices on electricity and motor vehicles, trailers and semi-trailers somewhat offset this increase.
The upturn on the import market was due to primarily higher prices on crude oil, followed by chemicals and chemical products, and basic metals. This upturn was somewhat offset by lower prices on communication equipment and electricity.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, February 2021– March 2021 | ||||
|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | |||
| 06.1 | Crude oil | 0.6 | |||
| 16 | Wood and of products of wood | 0.2 | 0.2 | ||
| 17.1 | Pulp, paper and paperboard | 0.1 | 0.2 | ||
| 20 | Chemicals and chemical products | 0.1 | 0.2 | 0.3 | |
| 24 | Basic metals | 0.1 | 0.1 | ||
| 24.1 | Basic iron and steel and ferro-alloys | 0.2 | |||
| 25 | Fabricated metal products, except machinery and equipment | 0.1 | |||
| 26.3 | Communication equipment | ‑0.1 | |||
| 29 | Motor vehicles, trailers and semi-trailers | ‑0.1 | |||
| 35.11 | Electricity | ‑0.4 | ‑0.1 | ||
| 35.14 | Trade services of electricity | ‑0.7 | |||
| 35.3 | Steam and air conditioning supply services | ‑0.1 | |||
| 38.1 | Waste; waste collection services | 0.2 | 0.1 | ||
Changes in the last year
There were price increases on a yearly basis on all markets. The annual rate on the domestic market was 5.3 percent, an increase from February, when the annual rate was 3.4 percent. This annual rate on the domestic market was the highest since November 2018.
On the export and the import markets, the annual rates were positive, at 2.1 percent and 2.0 percent respectively. In February, these rates were -0.9 percent and -2.4 percent respectively. The last time the annual rate for the export market was positive was in December 2019. For the import market, the last time the rate was positive was in February 2020.
The annual rate according to the Producer Price Index was 3.8 percent in March. This is the highest annual rate since April 2019, when it was 4.9 percent. Prices on energy-related products rose by 17.9 percent compared with March 2020. Prices on capital goods and on consumer goods fell by 2.5 percent and by 1.9 percent respectively. The annual rate for the Producer Price Index excluding energy-related products was 1.9 percent.
The annual rate of the Price Index for Domestic Supply was 3.7 percent in March. This is the highest annual rate since April 2019, when it was 4.7 percent. Prices on energy-related products increased by 21.1 percent compared with the corresponding month a year ago. Prices on capital goods and on consumer goods fell by 1.8 percent and 1.6 percent respectively. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 0.9 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) |
|---|---|---|
| February 2021– March 2021 |
March 2020– March 2021 |
|
| DKK | 0.9 | 4.7 |
| EUR | 1.0 | 5.1 |
| GBP | ‑1.2 | 9.1 |
| NOK | 0.0 | 6.9 |
| USD | 0.4 | 15.1 |
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 April will be published on 2021-05-25 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.