Producer and Import Price Index, November 2021
Annual rate for domestic market in November 2021 highest in 30 years
Statistical news from Statistics Sweden 2021-12-22 9.30
The Producer Price Index rose by 1.3 percent from October to November. Prices increased by 0.3 percent on the export market and decreased by 0.2 percent on the import market. On the domestic market, prices increased by 2.1 percent. The annual rate according to the Producer Price Index was 18.1 percent in November 2021 (16.8 percent in October).
In brief
- The domestic market had the highest annual rate in 30 years.
- Annual rate for domestic supply for consumer goods was 3.7 percent.
- On the domestic market, the main upnward contribution came from trade services of electricity.
- On the import market, the main downward contribution came from lower prices on crude oil.
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| October 2021– November 2021 |
November 2020– November 2021 |
|
| Producer Price Index, home sales | 2.1 | 18.1 |
| Export Price Index | 0.3 | 18.1 |
| Import Price Index | ‑0.2 | 17.2 |
| Producer Price Index | 1.3 | 18.1 |
| Price Index for domestic supply | 0.9 | 17.6 |
*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 export and domestic markets from October to November, but negative on the import market.
Higher prices for trade services of electricity and for district heating accounted for the largest positive contributions on the domestic market. Prices rose on several other product groups as well. The upturn was offset somewhat by falling prices on waste collection and materials recovery services and sawn and planed wood.
On the export market, the main upward contribution came from rising prices on electricity. Prices also rose on motor vehicles, trailers and semi-trailers, basic iron and steel and ferro-alloys, chemicals and chemical products and fabricated metal products. This upturn was mainly offset by falling prices on sawn and planed wood, machinery and equipment and pulp, paper and paperboard.
On the import market, the main downward contribution came from falling prices on crude oil, followed by computer, electronic and optical products, natural gas, machinery and equipment as well as motor vehicles, trailers and semi-trailers. This downturn was mainly offset by rising prices on chemicals and chemical products, electricity, fabricated metal products and basic metals.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, October 2021– November 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑0.3 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | ‑0.1 | |||
| 10 | Food products | 0.1 | |||
| 16.1 | Wood, sawn and planed | ‑0.1 | ‑0.3 | ||
| 16.2 | Varor av trä, kork, halm, rotting o.d. | 0.1 | |||
| 17.1 | Pulp, paper and paperboard | ‑0.1 | |||
| 20 | Chemicals and chemical products | 0.1 | 0.1 | 0.4 | |
| 23 | Other non-metallic mineral products | 0.1 | |||
| 24 | Basic metals | 0.1 | |||
| 24.1 | Basic iron and steel and ferro-alloys | 0.1 | |||
| 25 | Fabricated metal products, except machinery and equipment | 0.1 | 0.1 | 0.1 | |
| 26 | Computer, electronic and optical products | ‑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 | |||
| 29.3 | Parts and accessories for motor vehicles | ‑0.1 | |||
| 35.11A | Generation of electricity | 0.6 | 0.2 | ||
| 35.13 | Distribution services of electricity | 0.2 | |||
| 35.14 | Trade services of electricity | 1.0 | |||
| 35.3 | Steam and air conditioning supply services | 0.5 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | ‑0.1 | |||
Changes in the last year
The annual rate for the the domestic market reached the highest level in 30 years, 18.1 percent in November (16.8 percent in October).
The annual rate for the export market in November matches the all time high annual rate of September, 18.1 percent (17.1 percent in October).
On the import market, the annual rate in November was lower than in the previous month, 17.2 percent (17.5 percent in October).
The annual rate of the Producer Price Index was 18.1 percent in November 2021. This is the highest annual rate in 30 years. Compared with November 2020, prices rose by 50.9 percent on energy-related products, by 4.2 percent on capital goods, and by 2.9 percent on consumer goods. The annual rate of the Producer Price Index excluding energy-related products was 13.8 percent.
The annual rate of the Price Index for Domestic Supply was 17.6 percent in November. This is also the highest annual rate in 30 years. Prices on energy-related products increased by 56.6 percent compared with the corresponding month a year ago. Prices increased by 3.7 percent on consumer goods (the highest annual rate since May 2020) and by 3.0 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 11.6 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) |
|---|---|---|
| October 2021– November 2021 |
November 2020– November 2021 |
|
| DKK | 1.6 | 3.3 |
| EUR | 1.5 | 3.3 |
| GBP | ‑0.3 | ‑4.4 |
| NOK | ‑2.3 | ‑7.7 |
| USD | 0.7 | 1.3 |
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 December will be published on 2022-01-26 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.