Producer and Import Price Index, April 2022
Annual rates are still high for producer prices in April 2022
Statistical news from Statistics Sweden 2022-05-25 8.00
The Producer Price Index rose by 1.2 percent between March and April 2022. Prices increased by 1.6 percent on the export market and by 0.8 percent on the import market. On the domestic market, prices rose by 0.7 percent. The annual rate according to the Producer Price Index was 23.8 percent in April (24.5 percent in March).
In brief
- Higher prices on food products contributed 0.4 percentage points upwards to the monthly change on the domestic market.
- Lower crude oil prices contributed 0.9 percentage points downwards to the monthly change on the import market.
- Annual rate for consumer goods in Price Index for Domestic Supply was 12.1 percent (12.2 percent in March).
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| March 2022– April 2022 |
April 2021– April 2022 |
|
| Producer Price Index, home sales | 0.7 | 22.4 |
| Export Price Index | 1.6 | 25.1 |
| Import Price Index | 0.8 | 30.8 |
| Producer Price Index | 1.2 | 23.8 |
| Price Index for domestic supply | 0.8 | 26.8 |
*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 in April 2022, but lower than the rates in March.
Rising prices on wood and products of wood, fabricated metal products and food products accounted for the largest contributions in the domestic market, followed by chemicals and chemical products as well as basic metals. Prices also rose in a number of other product groups. Decrease in prices on trade services of electricity and district heating counteracted the upturn somewhat.
On the export market higher prices on chemicals and chemical products, wood and products of wood, pulp, paper and paperboard and basic metals accounted for the largest positive contribution to the monthly change. Prices also rose in a number of other product groups that also contributed to the upturn. The increase was offset to some extent by lower prices on generation of electricity and motor vehicles, trailers and semi-trailers.
The main contribution to the increase on the import market came from rising prices on chemicals and chemical products as well as basic metals. Higher prices on natural gas and fabricated metal products also contributed to the upturn, as did a number of other product groups. This upturn was mainly offset by lower prices on crude oil. The increase was also offset to some extent by lower prices on generation of electricity, basic pharmaceutical products and pharmaceutical preparations and computer, electronic and optical products.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, March 2022– April 2022 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑0.9 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.2 | |||
| 10 | Food products | 0.4 | 0.1 | ||
| 16 | Wood and products of wood and cork, except furniture; articles of straw and plaiting materials | 0.5 | 0.5 | 0.1 | |
| 17.1 | Pulp, paper and paperboard | 0.3 | |||
| 20 | Chemicals and chemical products | 0.2 | 0.5 | 0.7 | |
| 21 | Basic pharmaceutical products and pharmaceutical preparations | ‑0.2 | |||
| 22.2 | Plastic products | 0.1 | |||
| 23 | Other non-metallic mineral products | 0.1 | 0.1 | ||
| 24 | Basic metals | 0.2 | 0.3 | 0.5 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.4 | 0.1 | 0.2 | |
| 26 | Computer, electronic and optical products | ‑0.1 | |||
| 27 | Electrical equipment | 0.1 | |||
| 28.2 | Other general-purpose machinery | 0.1 | 0.1 | ||
| 28.9 | Other special-purpose machinery | 0.1 | |||
| 29 | Motor vehicles, trailers and semi-trailers | ‑0.1 | |||
| 35.11A | Generation of electricity | ‑0.4 | ‑0.2 | ||
| 35.14 | Trade services of electricity | ‑0.7 | |||
| 35.3FB | District heating | ‑0.6 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | 0.1 | 0.1 | ||
Changes in the last year
In April, the highest annual rate was noted for the domestic market, based on current methods. The annual rates for the other markets were lower in April than in March, but are still higher compared to previous years.
The annual rate for the domestic market was 22.4 percent in April (22.1 percent in March). The annual rate for the export market was 25.1 percent during the same period (27.1 percent in March). On the import market, the annual rate in April was 30.8 percent (32.6 percent in March).
The annual rate of the Producer Price Index was 23.8 percent in April 2022. Compared with April 2021, prices rose by 64.8 percent on energy-related products, by 10.3 percent on consumer goods and by 9.1 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 18.0 percent.
The annual rate of the Price Index for Domestic Supply was 26.8 percent in April. Prices on energy-related products increased by 77.3 percent compared with the corresponding month a year ago. Prices increased by 12.1 percent on consumer goods and by 8.3 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 18.0 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) |
|---|---|---|
| March 2022– April 2022 |
April 2021– April 2022 |
|
| DKK | 1.3 | ‑2.1 |
| EUR | 1.4 | ‑2.1 |
| GBP | 0.5 | ‑5.7 |
| NOK | ‑3.3 | ‑7.2 |
| USD | ‑1.8 | ‑8.9 |
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 May will be published on 2022-06-23 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.