Producer and Import Price Index, October 2021
Annual rate for import prices in October 2021 was highest in 28 years
Statistical news from Statistics Sweden 2021-11-25 9.30
The Producer Price Index rose by 0.1 percent from September to October. Prices increased by 0.2 percent on the export market and by 2.6 percent on the import market. On the domestic market, prices remained unchanged. The annual rate according to the Producer Price Index was 16.8 percent in October 2021 (17.2 percent in September).
In brief
- All markets were affected by rising prices on chemicals and on metals.
- Prices on wood products on the domestic market fell for the first time since June 2020.
- Rising prices for natural gas and crude oil contributed to the upturn on the import market.
- The annual rates for the import market reached the highest levels since October 1993.
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| September 2021– October 2021 |
October 2020– October 2021 |
|
| Producer Price Index, home sales | 0.0 | 16.8 |
| Export Price Index | 0.2 | 17.1 |
| Import Price Index | 2.6 | 17.5 |
| Producer Price Index | 0.1 | 16.8 |
| Price Index for domestic supply | 1.2 | 17.1 |
*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 the export and import markets from September to October, but remained unchanged on the domestic market.
Higher prices for steam and air conditioning supply services and fabricated metal products accounted for the largest upward contributions on the domestic market. Prices for chemicals and chemical products, basic metals and waste and waste collection services also rose. This upturn was offset by falling prices on sawn and planed wood and trade services of electricity.
On the export market, the main upward contribution came from rising prices on basic metals. Prices also rose on paper and paperboard, chemicals and chemical products and furnitures. This upturn was mainly offset by falling prices on electricity as well as sawn and planed wood.
On the import market, the main upward contribution came from rising prices on crude oil, followed by chemical and chemical products and natural gas. Prices also increased on food products, pharmaceutical preparations, computers and peripheral equipment and waste and waste collection services. This upturn was mainly offset by falling prices on electricity.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, September 2021– October 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.8 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.3 | |||
| 10 | Food products | 0.1 | |||
| 16.1 | Wood, sawn and planed | ‑0.3 | ‑0.4 | ||
| 17.12 | Paper and paperboard | 0.1 | |||
| 20 | Chemicals and chemical products | 0.1 | 0.1 | 0.4 | |
| 21.2 | Pharmaceutical preparations | 0.1 | |||
| 24 | Basic metals | 0.1 | 0.3 | 0.2 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.2 | |||
| 26.2 | Computers and peripheral equipment | 0.1 | |||
| 31 | Furniture | 0.1 | |||
| 35.11A | Generation of electricity | ‑0.9 | ‑0.1 | ||
| 35.14 | Trade services of electricity | ‑1.1 | |||
| 35.3 | Steam and air conditioning supply services | 0.2 | |||
| 38.1 | Waste; waste collection services | 0.1 | 0.1 | ||
Changes in the last year
In October, the annual rate for the export market was 17.1 percent, compared with 18.1 percent in September. The annual rate for the domestic market and import market was higher than the previous month, at 16.8 percent and 17.5 percent, respectively. The import market noted the highest annual rate in 28 years.
The annual rate of the Producer Price Index was 16.8 percent in October 2021. Compared with October 2020, prices rose by 45.1 percent on energy-related products, by 3.3 percent on capital goods, and by 2.1 percent on consumer goods. The annual rate of the Producer Price Index excluding energy-related products was 13.1 percent.
The annual rate of the Price Index for Domestic Supply was 17.1 percent in October. Prices on energy-related products increased by 57.4 percent compared with the corresponding month a year ago. Prices increased by 2.9 percent on capital goods and by 3.1 percent on consumer goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 11.1 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) |
|---|---|---|
| September 2021– October 2021 |
October 2020– October 2021 |
|
| DKK | 0.6 | 2.6 |
| EUR | 0.6 | 2.7 |
| GBP | 1.3 | ‑4.2 |
| NOK | ‑2.1 | ‑5.0 |
| USD | 0.6 | 3.1 |
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 November will be published on 2021-12-22 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.