Producer and Import Price Index, September 2022
Depreciation of the Swedish krona raised import and export prices in September 2022
Statistical news from Statistics Sweden 2022-10-25 8.00
The Producer Price Index rose by 0.4 percent in September compared to August 2022. Prices increased by 0.6 percent on the export market and by 1.5 percent on the import market. On the domestic market, prices rose by 0.1 percent. The annual rate according to the Producer Price Index was 20.6 percent in September (22.0 percent in August).
In brief
- All markets were affected by rising prices on food products.
- The Swedish krona depreciated against the most common foreign trade currencies.
- The annual rate for consumer goods in Price Index for Domestic Supply continued to rise and was 16.7 percent in September (15.3 percent in August).
| Total: SPIN B–E* | Change, percent (monthly) |
Change, percent (yearly) |
|---|---|---|
| August 2022– September 2022 |
September 2021– September 2022 |
|
| Producer Price Index, home sales | 0.1 | 20.0 |
| Export Price Index | 0.6 | 21.1 |
| Import Price Index | 1.5 | 30.5 |
| Producer Price Index | 0.4 | 20.6 |
| Price Index for domestic supply | 0.9 | 25.3 |
*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 September. 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 in food products, other machinery and equipment, paper and paper products, fabricated metal products as well as parts and accessories for motor vehicles. This upturn was offset by price decreases on district heating, sawn and planed wood as well as waste collection, treatment and disposal- and materials recovery services.
On the export market the main upward contribution came from higher prices on paper and paper products. Prices also rose in motor vehicles, trailers and semi-trailers, other machinery and equipment, basic chemicals, basic iron and steel, food products as well as for computer, electronic and optical products. This upturn was offset to some extent by price decreases on sawn and planed wood and plastics in primary forms.
The main contribution to the increase on the import market came from higher prices on computer, electronic and optical products. Prices also rose in a number of other product groups. This upturn was somewhat offset by price decreases on pharmaceutical preparations.
| Product group according to SPIN 2015 | Largest contributions, in percentage points, to total percentage change, August 2022– September 2022 |
||||
|---|---|---|---|---|---|
| Producer Price Index, home sales |
Export Price Index |
Import Price Index |
|||
| 10 | Food products | 0.1 | 0.1 | 0.1 | |
| 13 | Textiles | 0.1 | |||
| 14 | Wearing apparel | 0.1 | |||
| 16.1 | Wood, sawn and planed | ‑0.2 | ‑0.3 | ||
| 17 | Paper and paper products | 0.1 | 0.4 | ||
| 20.1 | Basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms | 0.1 | 0.1 | ||
| 20.16 | Plastics in primary forms | ‑0.1 | |||
| 21.2 | Pharmaceutical preparations | ‑0.1 | |||
| 22.2 | Plastic products | 0.1 | |||
| 23 | Other non-metallic mineral products | 0.1 | |||
| 24.1 | Basic iron and steel and ferro-alloys | 0.1 | |||
| 25 | Fabricated metal products, except machinery and equipment | 0.1 | 0.1 | ||
| 26 | Computer, electronic and optical products | 0.1 | 0.4 | ||
| 27 | Electrical equipment | 0.1 | |||
| 28 | Machinery and equipment n.e.c. | 0.1 | 0.2 | 0.1 | |
| 29 | Motor vehicles, trailers and semi-trailers | 0.2 | 0.2 | ||
| 29.3 | Parts and accessories for motor vehicles | 0.1 | |||
| 31 | Furniture | 0.1 | |||
| 35.14 | Trade services of electricity | 0.5 | |||
| 35.3FB | District heating apartment buildings | ‑0.3 | |||
| 38 | Waste collection, treatment and disposal services; materials recovery services | ‑0.1 | |||
Changes in the last year
The annual rate for the domestic market was 20.0 percent in September (22.4 percent in August). The annual rate for the export market was 21.1 percent during the same period (21.1 percent in August). On the import market, the annual rate in September was 30.5 percent (31.7 percent in August).
The annual rate of the Producer Price Index was 20.6 percent in September. Compared with September 2021, prices rose by 61.7 percent on energy-related products. Prices increased by 15.9 percent on consumer goods and by 12.1 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 13.7 percent.
The annual rate of the Price Index for Domestic Supply was 25.3 percent in September. Compared with September 2021, prices rose by 74.1 percent on energy-related products. Prices increased by 16.7 percent on consumer goods and by 10.9 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 15.3 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) |
|---|---|---|
| August 2022– September 2022 |
September 2021– September 2022 |
|
| DKK | ‑1.4 | ‑3.5 |
| EUR | ‑1.3 | ‑3.5 |
| GBP | ‑2.3 | ‑4.7 |
| NOK | ‑5.8 | ‑10.5 |
| USD | ‑3.6 | ‑18.1 |
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 October will be published on 2022-11-25 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.