Producer and Import Price Index, May 2021
Prices continued to increase on all markets in May 2021
Statistical news from Statistics Sweden 2021-06-24 9.30
The Producer Price Index increased by 1.3 percent between April and May. The export market increased by 1.1 percent and the domestic market increased by 1.4 percent. On the import market, prices increased by 0.9 percent. The annual rate according to the Producer Price Index was 7.9 percent in May 2021 (5.6 percent in April).
In brief
- Prices increased on all markets from April to May.
- The annual rate was even higher than last month’s peak on the domestic market.
- Prices on wood products increased significantly on the domestic and export markets.
- All markets were affected by rising prices on basic metals, electricity and chemicals.
- For ITPI, prices increased for intermediate goods and energy-related products, while prices for capital and consumer goods decreased compared with May 2020.
| Total: B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| April 2021– May 2021 |
May 2020– May 2021 |
|
| Producer Price Index, home sales | 1.4 | 9.9 |
| Export Price Index | 1.1 | 5.9 |
| Import Price Index | 0.9 | 5.3 |
| Producer Price Index | 1.3 | 7.9 |
| Price Index for domestic supply | 1.0 | 7.4 |
Changes in the last month
The monthly rate of change was positive on all markets from April to May. Prices increased mainly on basic metals, electricity and wood products.
On the domestic market, the main upward contribution came from higher prices on trade services of electricity. In addition, prices increased on sawn and planed wood, basic metals, waste collection, treatment and disposal services, chemicals and chemical products as well as pulp, paper and paperboard. This upturn was somewhat offset by seasonally normal price decreases on district heating.
On the export market, the main upward contribution came instead from higher prices on sawn and planed wood, followed by price increases on basic metals and electricity. In addition, prices increased on pulp and chemicals and chemical products. This upturn was somewhat offset by price decreases on motor vehicles, trailers and semi-trailers.
The main upward contributions on the import market came from higher prices on crude oil, chemical and chemical products and basic metals. Prices also increased on waste collection, treatment and disposal services, electricity, natural gas and electrical equipment. Price decreases on computer, electronic and optical products somewhat offset this upturn.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, April 2021– May 2021 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 06.1 | Crude oil | 0.3 | |||
| 06.2 | Natural gas, liquefied or in gaseous state | 0.1 | |||
| 16.1 | Wood, sawn and planed | 0.4 | 0.4 | ||
| 17.1 | Pulp, paper and paperboard | 0.1 | |||
| 17.11 | Pulp | 0.1 | |||
| 20 | Chemicals and chemical products | 0.1 | 0.1 | 0.2 | |
| 24 | Basic metals | 0.2 | 0.3 | 0.2 | |
| 26 | Computer, electronic and optical products | ‑0.1 | |||
| 27 | Electrical equipment | 0.1 | |||
| 29 | Motor vehicles, trailers and semi-trailers | ‑0.1 | |||
| 35.1 | Electricity, transmission and distribution services | 0.3 | 0.1 | ||
| 35.14 | Trade services of electricity | 0.5 | |||
| 35.3 | Steam and air conditioning supply services | ‑0.3 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | 0.2 | 0.1 | ||
Changes in the last year
On a yearly basis, prices increased on all markets in May 2021. This can be compared with the corresponding figures in May 2020, in which the annual rate was negative.
The annual rate on the domestic market was 9.9 percent, which was a new peak for the annual rate. On the import and export markets, the annual rate of change was higher than the previous month and was 5.3 percent and 5.9 percent, respectively.
The annual rate of the Producer Price Index was 7.9 percent in May 2021. Prices on energy-related products rose by 33.3 percent compared with May 2020. Prices on capital goods and on consumer goods fell by 2.2 percent and by 1.6 percent, respectively. The annual rate for the Producer Price Index excluding energy-related products was 4.9 percent.
The annual rate of the Price Index for Domestic Supply was 7.4 percent. Prices on energy-related products increased by 39.2 percent compared with the corresponding month a year ago. Prices on capital goods and on consumer goods fell by 2.6 percent and by 1.4 percent respectively. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 3.2 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) |
|---|---|---|
| April 2021– May 2021 |
May 2020– May 2021 |
|
| DKK | 0.3 | 6.9 |
| EUR | 0.2 | 7.2 |
| GBP | 0.3 | 5.3 |
| NOK | ‑1.0 | ‑6.6 |
| USD | 1.8 | 16.1 |
A positive number means that the Swedish krona was strengthened against that currency.
As from this publication, base year 2020=100 will be used in the statistical news, key figures, tables, and figures. This means that previously published figures may deviate due to the use of a different base year.
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 June will be published on 2021-07-23 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.