Producer and Import Price Index, April 2021
Record high annual rate on the domestic market in April 2021
Statistical news from Statistics Sweden 2021-05-25 9.30
The Producer Price Index rose by 1.7 percent between March and April. The export market increased by 3.3 percent and the domestic market increased by 0.5 percent. On the import market, prices rose by 2.2 percent. The annual rate according to the Producer Price Index was 5.6 percent in April 2021 (3.8 percent in March).
In brief
- The annual rate on the domestic market reached a record high level.
- The Producer Price Index noted the highest annual rate since March 2019.
- All markets were affected by higher prices on basic metals, and chemicals and chemical products.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| March 2021– April 2021 |
April 2020– April 2021 |
|
| Producer Price Index | 1.7 | 5.6 |
| Producer Price Index, home sales | 0.5 | 7.9 |
| Export Price Index | 3.3 | 3.4 |
| Import Price Index | 2.2 | 3.6 |
| Price Index for domestic supply | 1.3 | 5.6 |
Changes in the last month
The monthly rate of change was positive on all markets from March to April.
On the domestic market, upward contributions came mainly from higher prices on wood and products of wood, fabricated metal products (except machinery and equipment) and basic metals. Other product groups made upward contributions of 0.1 percentage point each. This upturn was somewhat offset by lower prices on steam and air conditioning supply services, distribution services of electricity and trade services of electricity.
The main upward contributions on the export market came from higher prices on basic metals, chemicals and chemical products, paper and paper products, wood and products of wood, motor vehicles, trailers and semi-trailers, and machinery and equipment n.e.c. In addition, upward contributions of 0.1 percentage point each came from other product groups.
The upturn on the import market was primarily due to higher prices on chemicals and chemical products, followed by basic metals and food products. Other product groups made upward contributions of 0.1 percentage point each. This upturn was somewhat offset by lower prices on crude oil.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, March 2021– April 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | ‑0.1 | |||
| 10 | Food products | 0.1 | 0.1 | 0.2 | |
| 14 | Wearing apparel | 0.1 | |||
| 16 | Wood and of products of wood | 0.4 | 0.3 | ||
| 17 | Paper and paper products | 0.1 | 0.4 | ||
| 20 | Chemicals and chemical products | 0.1 | 0.4 | 0.7 | |
| 22.2 | Plastic products | 0.1 | 0.1 | 0.1 | |
| 24 | Basic metals | 0.3 | 0.7 | 0.3 | |
| 25 | Fabricated metal products, except machinery and equipment | 0.3 | 0.1 | 0.1 | |
| 26 | Computer, electronic and optical products | 0.1 | 0.1 | ||
| 27 | Electrical equipment | 0.1 | 0.1 | ||
| 28 | Machinery and equipment n.e.c. | 0.2 | 0.1 | ||
| 29 | Motor vehicles, trailers and semi-trailers | 0.3 | 0.1 | ||
| 35.13 | Distribution services of electricity | ‑0.2 | |||
| 35.14 | Trade services of electricity | ‑0.1 | |||
| 35.3 | Steam and air conditioning supply services | ‑0.9 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | 0.1 | 0.1 | 0.1 | |
Changes in the last year
There were price increases on a yearly basis on all markets. In April 2021, the annual rate on the domestic market was 7.9 percent, up from 5.3 percent in March. This is the largest yearly increase on the domestic market in the last 30 years, based on current methods.
On the import and the export markets, the annual rates were positive, at 3.6 percent and 3.4 percent respectively. In March, these rates were 2.0 percent and 2.1 percent respectively. For the import market, this was the highest annual rate since December 2019. The last time the annual rate for the export market was this high was in June 2019.
The annual rate according to the Producer Price Index was 5.6 percent in April. Prices on energy-related products rose by 30.6 percent compared with April 2020. Prices on capital goods and on consumer goods fell by 2.7 percent and by 2.5 percent respectively. The annual rate for the Producer Price Index excluding energy-related products was 2.8 percent.
The annual rate of the Price Index for Domestic Supply was 5.6 percent in April. Prices on energy-related products increased by 40.6 percent compared with the corresponding month a year ago. Prices on capital goods and on consumer goods fell by 3.5 percent and 2.6 percent respectively. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 1.1 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) |
|---|---|---|
| March 2021– April 2021 |
April 2020– April 2021 |
|
| DKK | ‑1.3 | 9.7 |
| EUR | ‑1.3 | 10.1 |
| GBP | ‑2.0 | 1.3 |
| NOK | ‑1.7 | ‑14.2 |
| USD | ‑3.4 | 17.1 |
A positive number means that the Swedish krona was strengthened against that currency.
As from the publication on 2021-06-24, base year 2020=100 will be used in statistical news, key figures and tables and figures.
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 May will be published on 2021-06-24 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.