Producer and Import Price Index, June 2023
Prices at the producer and import stage turned upwards in June 2023
Statistical news from Statistics Sweden 2023-07-25 8.00
The Producer Price Index rose by 1.5 percent in June compared to May 2023. Prices increased by 1.6 percent on the export market and increased by 1.3 percent on the domestic market. On the import market, prices rose by 1.0 percent. Compared with June 2022, the Producer Price Index decreased by 3.1 percent (2.1 percent decrease in May).
In brief
- Energy related goods contributed with 1.0 percentage point to the increase the Producer Price Index.
- A general depreciation of the Swedish Krona contributed to increased prices.
- Negative annual rates were registered for all markets in June 2023.
- The annual rate for consumer goods in Price Index for Domestic Supply was 11.2 percent in June (compared to 11.5 percent in May).
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| May 2023– June 2023 |
June 2022– June 2023 |
|
| Producer Price Index, home sales | 1.3 | ‑4.9 |
| Export Price Index | 1.6 | ‑0.8 |
| Import Price Index | 1.0 | ‑1.6 |
| Producer Price Index | 1.5 | ‑3.1 |
| Price Index for domestic supply | 1.2 | ‑3.2 |
*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 domestic, export and import markets in June. This resulted in positive monthly rates of change for both Producer Price Index and Price Index for Domestic Supply during the same period.
The main upward contribution on the domestic market came from higher prices on trade services of electricity. Prices also rose for refined petroleum products as well as wood and products of wood. This upturn was offset by a price decrease within district heating which is normal for the season.
On the export market the main upward contribution came from higher prices on generation of electricity. Prices also rose for refined petroleum products, motor vehicles, trailers and semi-trailers, other organic basic chemicals, electrical equipment, paper and paperboard, other machinery and equipment and basic metals. This upturn was offset by price decreases on paper pulp and plastics in primary forms.
On the import market, prices increased for other machinery and equipment, motor vehicles, trailers and semi-trailers, food products, electrical equipment, fabricated metal products, chemicals and chemical products, crude oil and natural gas and consumer electronics.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, May 2023– June 2023 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06 | Crude oil and natural gas | 0.1 | |||
| 10 | Food products | 0.1 | |||
| 16 | Wood and products of wood | 0.1 | |||
| 17.11 | Pulp | ‑0.1 | |||
| 17.12 | Paper and paperboard | 0.1 | |||
| 19.2 | Refined petroleum products | 0.2 | 0.3 | ||
| 20 | Chemicals and chemical products | 0.1 | |||
| 20.14 | Other organic basic chemicals | 0.2 | |||
| 20.16 | Plastics in primary forms | ‑0.1 | |||
| 24 | Basic metals | 0.1 | |||
| 25 | Fabricated metal products | 0.1 | |||
| 26.4 | Consumer electronics | 0.1 | |||
| 27 | Electrical equipment | 0.2 | 0.1 | ||
| 28 | Other machinery and equipment | 0.1 | 0.1 | ||
| 29 | Motor vehicles, trailers and semi-trailers | 0.2 | 0.1 | ||
| 35.11A | Generation of electricity | 0.7 | |||
| 35.14 | Trade services of electricity | 1.4 | |||
| 35.3FB | District heating | ‑0.5 | |||
Changes in the last year
The annual rate for the domestic market was -4.9 percent in June (-4.1 percent in May). The annual rate for the export market was -0.8 percent during the same period (0.3 percent in May). On the import market, the annual rate in June was -1.6 percent (1.0 percent in May).
The annual rate of the Producer Price Index was -3.1 percent in June. Compared with June 2022, prices fell by 29.8 percent on energy-related products. Prices increased by 9.3 percent on consumer goods and increased by 9.4 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 4.4 percent.
The annual rate of the Price Index for Domestic Supply was -3.2 percent in June. Compared with June 2022, prices fell by 31.2 percent on energy-related products. Prices increased by 11.2 percent on consumer goods and increased by 8.5 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 5.3 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) |
|---|---|---|
| May 2023– June 2023 |
June 2022– June 2023 |
|
| DKK | ‑1.5 | ‑8.7 |
| EUR | ‑1.4 | ‑8.8 |
| GBP | ‑2.7 | ‑6.5 |
| NOK | 1.5 | 5.4 |
| USD | ‑3.1 | ‑6.4 |
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 July will be published on 2023-08-25 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.