Producer and Import Price Index, November 2020
Export and import prices remained low in November 2020
Statistical news from Statistics Sweden 2020-12-22 9.30
The Producer Price Index increased by 0.2 percent between October and November 2020. Prices increased by 0.8 percent on the domestic market and decreased by 0.6 percent on the export market. On the import market, prices remained unchanged. The annual rate according to the Producer Price Index was -4.4 percent in November 2020 (-4.2 percent in October).
In brief
- Crude oil prices rose on the import market.
- Prices on electricity fell on the domestic and the import market.
- Prices remained low on all markets compared with the same period a year ago.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| October 2020– November 2020 |
November 2019– November 2020 |
|
| Producer Price Index | 0.2 | ‑4.4 |
| Producer Price Index, home sales | 0.8 | ‑2.3 |
| Export Price Index | ‑0.6 | ‑6.5 |
| Import Price Index | 0.0 | ‑7.6 |
| Price Index for domestic supply | 0.5 | ‑5.1 |
* Products from mining and quarrying, manufactured products, electricity, gas, heating, cooling, water and waste collection.
Changes in the last month
Prices increased on the domestic market from October to November. Prices fell on the export market, while they remained unchanged on the import market.
On the domestic market, upward contributions came mainly from seasonally normal price increases on district heating. Distribution services of electricity also contributed upwards. Lower prices on electricity somewhat offset the increase on the domestic market.
The main contribution to the downturn on the export market came from lower prices on motor vehicles, trailers and semi-trailers, machinery and equipment, chemicals and chemical products, as well as pulp, paper and paperboard. Higher prices on sawn and planed wood somewhat offset the decrease on the export market.
Prices on the import market remained unchanged between October and November. Upward contributions came from higher prices on crude oil, computers and peripheral equipment, as well as chemicals and chemical products, while downward contributions came from lower prices on communication equipment, electricity, machinery and equipment, as well as motor vehicles, trailers, and semi-trailers.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, October 2020– November 2020 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.5 | |||
| 16 | Wood and of products of wood and cork, except furniture; articles of straw and plaiting materials | 0.1 | |||
| 16.1 | Wood, sawn and planed | 0.1 | |||
| 17.1 | Pulp, paper and paperboard | ‑0.1 | |||
| 20 | Chemicals and chemical products | ‑0.1 | 0.1 | ||
| 26,2 | Computers and peripheral equipment | 0.1 | |||
| 26,3 | Communication equipment | ‑0.1 | |||
| 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 | ||
| 35.11 | Electricity | ‑0.1 | ‑0.1 | ||
| 35.13 | Distribution services of electricity | 0.2 | |||
| 35.3 | Steam and air conditioning supply services | 0.5 | |||
Changes in the last year
Price declines were apparent on a yearly basis on all markets. The annual rate was -2.3 percent on the domestic market. On the import and the export markets, the annual rates were -7.6 percent and -6.5 percent respectively.
The annual rate according to the Producer Price Index was -4.4 percent in November. Prices on energy-related products fell by 20.8 percent compared with November 2019. For the Producer Price Index excluding energy-related products, the annual rate was -1.7 percent. Prices on capital goods and prices on consumer goods fell by 2.2 percent and by 0.4 percent respectively.
The annual rate of the Price Index for Domestic Supply was -5.1 percent in November. Prices on energy-related products fell by 23.5 percent compared with the corresponding month a year ago. For the Price Index for Domestic Supply excluding energy-related products, the annual rate was -1.3 percent. Prices on capital goods and prices on consumer goods fell by 1.2 percent and by 0.2 percent respectively.
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) |
|---|---|---|
| October 2020– November 2020 |
November 2019– November 2020 |
|
| DKK | 1.0 | 3.2 |
| EUR | 1.0 | 3.6 |
| GBP | ‑0.1 | 8.6 |
| NOK | 0.6 | 10.2 |
| USD | 2.4 | 9.5 |
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 December will be published on 2021-01-26 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.