Producer and import price index, November 2018
Downturn in crude oil prices lowers the import market
Statistical news from Statistics Sweden 2018-12-21 9.30
Producer prices remained unchanged between October and November 2018. In the same period, prices decreased on the import and export market by 2.3 percent and 0.7 percent respectively. On the domestic market, prices increased by 0.8 percent. Domestic supply prices, that is, producer prices on the domestic and import markets together, decreased by 0.9 percent between October and November.
Changes during the last month
The main contributor to the downturn on the import market was crude oil, which was down 16 percent between October and November. This was the largest monthly decrease in crude oil prices since December 2014. Higher prices on electricity countered the rise on the import and export market. On the domestic market, a seasonally normal price increase on district heating, as well as higher electricity prices, contributed to the rise.
Changes during the last year
The Producer Price Index, that is, producer prices on the domestic and export markets together, increased by 7.9 percent from November 2017 to November 2018. In the same period, prices increased by 9.6 percent on the export market and by 9.3 percent on the import market. In November, the annual rate on the domestic market was 6.5 percent.
| Total: B-E* | Index | Change, percent (monthly) | Change, percent (yearly) |
|---|---|---|---|
| November 18, 2015=100 | October 18 - November 18 | November 17 - November 18 | |
|
Producer Price Index
|
113.5 | 0.0 | 7.9 |
|
Manufacturing
|
111.1 | ‑0.6 | 7.2 |
|
Producer Price Index, home sales
|
113.0 | 0.8 | 6.5 |
|
Electricity, gas, heating
|
129.1 | 7.1 | 17.2 |
|
Electricity
|
152.5 | 5.2 | 39.7 |
|
Export Price Index
|
114.1 | ‑0.7 | 9.6 |
|
Import Price Index
|
113.7 | ‑2.3 | 9.3 |
|
Price Index for domestic supply
|
113.4 | ‑0.9 | 7.9 |
|
Consumer goods
|
107.0 | 0.1 | 3.1 |
|
Capital goods
|
106.0 | 0.1 | 4.8 |
|
Intermediate goods
|
114.0 | 0.1 | 9.0 |
|
Energy related goods**
|
134.1 | ‑5.4 | 18.6 |
* 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 from October to November 2018
An appreciation or depreciation of the Swedish currency has a tendency to lower or raise export and import prices in Swedish krona. According to Swedish Customs’ exchange rates, the Swedish krona depreciated against the US dollar by 2.1 percent, against the Danish krona and the euro by 0.3 percent. The Swedish krona appreciated against the Norwegian krona by 0.3 percent and against the British pound by 0.2 percent.
Product group according to SPIN 2015 |
Largest contributions, in percentage points, to total percentage change, October - November |
|||||
|---|---|---|---|---|---|---|
| Producer Price Index, home sales | Export Price Index | Import Price Index | ||||
06.1 |
Crude oil |
-1.5 | ||||
10 |
Food products |
0.1 | ||||
20.14 |
Other organic basic chemicals |
-0.1 | -0.1 | |||
24 |
Basic metals |
|||||
24.1 |
Basic iron and steel and ferro-alloys |
-0.1 | ||||
27.9 |
Other 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 |
0.3 | 0.1 | 0.1 | ||
35.3 |
Steam and air conditioning supply services |
0.5 | ||||
Definitions and explanations
New product classification
Producer and Import Price Index is reported in accordance with both SPIN 2007 and SPIN 2015 in the statistical database. Both product classifications will be available during 2018. In 2019, price indices will only be available in accordance with SPIN 2015. Users are recommended to start using SPIN 2015. The differences between the two classifications are minor. For more information on both classifications (available only in Swedish), please see:
Standard för svensk produktindelning efter näringsgren (SPIN)
Next publishing will be
Statistics on December will be published on 2019-01-25 at 09:30 am.
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.