Producer and import price index, September 2019
Lower inflation on producer price and import price markets in September 2019
Statistical news from Statistics Sweden 2019-10-25 9.30
The Producer Price Index remained unchanged between August and September 2019. In the same period, prices on the import market increased by 1.6 percent and by 0.3 percent on the export market. On the domestic market, prices decreased by 0.3 percent. Domestic supply prices, that is, producer prices on the domestic market and import prices together, increased by 0.6 percent from August to September.
Changes during the last month
The main contributor to the increase on the import market was higher crude oil prices. Higher prices for basic metals, machinery, equipment, chemicals, and chemical products contributed to the increase on the export market. Price declines in electricity and district heating contributed to the downturn on the domestic market.
Changes during the last year
The Producer Price Index annual rate in September was 0.3 percent (1.4 percent in August). Compared to September 2018, prices on the export market remained unchanged. The annual rate on the import market was -1.4 percent. The annual rate on the domestic market and the annual rate on domestic supply prices was 0.5 percent and -0.5 percent, respectively. This is the first time since September 2016 that the annual rate on domestic supply prices is negative.
| Total: B–E* | Index | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|---|
| September 2019, 2015=100 |
August 2019– September 2019 |
September 2018– September 2019 |
|
| Producer Price Index | 114.1 | 0.0 | 0.3 |
| Manufacturing | 112.5 | 0.4 | 0.3 |
| Producer Price Index, home sales | 112.4 | ‑0.3 | 0.5 |
| Electricity, gas, heating | 116.7 | ‑2.7 | ‑1.3 |
| Electricity | 133.5 | ‑3.6 | ‑11.9 |
| Export Price Index | 115.8 | 0.3 | 0.0 |
| Import Price Index | 115.6 | 1.6 | ‑1.4 |
| Price Index for domestic supply | 114.1 | 0.6 | ‑0.5 |
| Consumer goods | 110.7 | 0.6 | 3.0 |
| Capital goods | 108.6 | 0.5 | 1.9 |
| Intermediate goods | 114.8 | 0.5 | 0.3 |
| Energy related goods** | 127.3 | 1.4 | ‑9.4 |
* Products from mining and quarrying, manufactured products, electricity, gas, heating, cooling, water and waste collection. ** Subgroups 05, 06, 19, 35 and 36: Energy minerals (mainly crude oil), coal, refined petroleum products, nuclear fuel, electricity, gas, heating, cooling and water.
Changes in exchange rates
An appreciation or depreciation of the Swedish currency lowers or raises export and import prices in Swedish krona. According to Swedish Customs’ exchange rates, from August to September, the Swedish krona appreciated against the Norwegian krona by 1.3 percent and against the British pound by 0.8 percent. The Swedish krona depreciated against the US dollar by 1.7 percent, against the Danish krona by 1.5 percent and against the euro by 1.3 percent.
In the last year, the Swedish krona has depreciated against the US dollar by 5.8 percent, but also against the euro and the Danish krona by 1.7 percent. The Swedish krona appreciated against the Norwegian krona by 0.6 percent and against the British pound by 0.3 percent.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, August 2019– September 2019 | |||||
|---|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | ||||
| 06.1 | Crude oil | 0.6 | ||||
| 10 | Food products | 0.1 | ||||
| 17.12 | Paper and paperboard | 0.1 | ||||
| 20 | Chemicals and chemical products | 0.1 | 0.1 | |||
| 24 | Basic metals | 0.1 | 0.2 | 0.1 | ||
| 28 | Machinery and equipment n.e.c. | 0.1 | ||||
| 26.3 | Communication equipment | ‑0.1 | ||||
| 27 | Electrical equipment | 0.1 | ||||
| 28 | Machinery and equipment n.e.c. | 0.1 | ||||
| 29 | Motor vehicles, trailers and semi-trailers | 0.1 | ||||
| 35.11 | Electricity | ‑0.2 | ‑0.1 | ‑0.1 | ||
| 35.3 | Steam and air conditioning supply services | ‑0.2 | ||||
| 38.1 | Waste; waste collection services | ‑0.1 | ||||
Next publishing will be
Statistics for October will be published on 2019-11-26 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.