Producer and Import Price Index, March 2022
Producer and import prices continue to increase for all markets in March 2022
Statistical news from Statistics Sweden 2022-04-27 8.00
The Producer Price Index rose by 5.5 percent between February and March 2022. Prices increased by 6.5 percent on the export market and by 7.7 percent on the import market. On the domestic market, prices rose by 4.6 percent. The annual rate according to the Producer Price Index was 24.5 percent in March (19.3 percent in February).
In brief
- The highest annual and monthly rates since 1990 for all markets.
- Higher crude oil prices contributed 2.5 percentage points upwards to the monthly change on the import market.
- All markets were affected by rising prices on food products compared to February.
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| February 2022– March 2022 |
March 2021– March 2022 |
|
| Producer Price Index, home sales | 4.6 | 22.1 |
| Export Price Index | 6.5 | 27.1 |
| Import Price Index | 7.7 | 32.6 |
| Producer Price Index | 5.5 | 24.5 |
| Price Index for domestic supply | 6.3 | 27.5 |
*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 February to March 2022.
Rising prices for trade services of electricity, food products and waste collection, treatment and disposal- and materials recovery services accounted for the largest contributions in the domestic market. Prices also rose in a number of other product groups, like basics metals, fabricated metal products (except machinery and equipment) and sawn and planed wood. Decrease in prices for electrical equipment counteracted the upturn somewhat.
On the export market higher prices for electricity accounted for the largest positive contribution to the monthly change. Higher prices for basic metals and paper and paper products, machinery and equipment and motor vehicles, trailers and semi-trailers also contributed to the price upturn. Prices also rose in a number of other product groups.
The main contribution to the increase on the import market was higher crude oil prices. Electricity, chemicals and chemical products, basic metals, natural gas and food products, also contributed to the upturn, as did a number of other product groups.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, February 2022– March 2022 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 2.5 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.4 | |||
| 10 | Food products | 0.4 | 0.1 | 0.3 | |
| 16.1 | Wood, sawn and planed | 0.1 | 0.1 | ||
| 17 | Paper and paper products | 0.1 | 0.2 | 0.1 | |
| 20.1 | Basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms | 0.1 | 0.1 | 0.5 | |
| 21 | Basic pharmaceutical products and pharmaceutical preparations | 0.1 | |||
| 22 | Rubber and plastic products | 0.1 | 0.1 | ||
| 22.21 | Plastic plates, sheets, tubes and profiles | 0.1 | |||
| 23 | Other non-metallic mineral products | 0.1 | |||
| 24 | Basic metals | 0.2 | 0.6 | 0.5 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.2 | 0.1 | 0.1 | |
| 26.3 | Communication equipment | 0.1 | |||
| 27 | Electrical equipment | ‑0.1 | 0.1 | 0.1 | |
| 28 | Machinery and equipment n.e.c. | 0.1 | 0.2 | 0.2 | |
| 29 | Motor vehicles, trailers and semi-trailers | 0.2 | 0.1 | ||
| 35.11A | Generation of electricity | 1.1 | 0.9 | ||
| 35.14 | Trade services of electricity | 1.7 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | 0.3 | 0.1 | 0.1 | |
Changes in the last year
In March, the highest annual rates were noted for all markets, based on current methods.
The annual rate for the domestic market was 22.1 percent in March (17.5 percent in February). The annual rate for the export market was 27.1 percent during the same period (21.0 percent in February). On the import market, the annual rate in March was 32.6 percent (24.3 percent in February).
The annual rate of the Producer Price Index was 24.5 percent in March 2022. Compared with March 2021, prices rose by 67.6 percent on energy-related products, by 9.9 percent on capital goods, and by 8.9 percent on consumer goods. The annual rate of the Producer Price Index excluding energy-related products was 17.9 percent.
The annual rate of the Price Index for Domestic Supply was 27.5 percent in March. Prices on energy-related products increased by 80.7 percent compared with the corresponding month a year ago. Prices increased by 12.2 percent on consumer goods and by 8.6 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 17.8 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 2022– March 2022 |
March 2021– March 2022 |
|
| DKK | ‑1.6 | ‑4.6 |
| EUR | ‑1.6 | ‑4.7 |
| GBP | ‑1.0 | ‑8.0 |
| NOK | ‑0.2 | ‑5.7 |
| USD | ‑1.2 | ‑10.2 |
A positive number means that the Swedish krona was strengthened against that currency.
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 April will be published on 2022-05-25 at 08:00.
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.