April 27, 2023

The Producer Price Index decreased by 0.1 percent in March compared to February 2023. The export market was unchanged in March compared to February 2023. Prices decreased by 0.8 percent on the import market. On the domestic market, prices decreased by 0.2 percent. The annual rate according to the Producer Price Index was 3.5 percent in March (9.3 percent in February).

In brief

  • Crude oil and natural gas contributed to the downturn on the import market by 0.3 percentage points respectively.
  • Lower prices on energy related goods contributed downwards on all markets.
  • Lowest annual rates for Producer Price Index and Price Index for Domestic Supply since February 2021.
  • The annual rate for consumer goods in Price Index for Domestic Supply was 13.8 percent in March (compared to 16.0 percent in February).

Changes in the last month

The monthly rate of change was negative on the domestic and import markets, but unchanged on the export market in March. This resulted in negative monthly rate of change for both Producer Price Index and Price Index for Domestic Supply during the same period.

The largest negative contribution on the domestic market came from lower prices on trade services of electricity. Prices also fell within refined petroleum products. This downturn was somewhat offset by higher prices on food products.

On the export market the main downward contribution came from lower prices on refined petroleum products. Prices also fell within paper and paper products, generation of electricity, chemicals and chemical products and motor vehicles. This downturn was offset by higher prices on, for example, basic iron and steel and other machinery and equipment.

The main contributions to the decrease on the import market came from lower prices on crude oil and natural gas. Prices also fell within chemicals and chemical products, generation of electricity, paper and paper products, basic iron and steel as well as structural metal products. This downturn was offset by higher prices on food products, motor vehicles and other machinery and equipment.

Changes in the last year

The annual rate for the domestic market was 2.4 percent in March (7.3 percent in February). The annual rate for the export market was 4.9 percent during the same period (11.8 percent in February). On the import market, the annual rate in March was 3.2 percent (12.2 percent in February).

The annual rate of the Producer Price Index was 3.5 percent in March. Compared with March 2022, prices fell by 13.7 percent on energy-related products. Prices increased by 13.6 percent on consumer goods and increased by 10.2 percent on capital goods. The annual rate of the Producer Price Index excluding energy-related products was 8.4 percent.

The annual rate of the Price Index for Domestic Supply was 2.8 percent in March. Compared with March 2022, prices fell by 18.2 percent on energy-related products. Prices increased by 13.8 percent on consumer goods and increased by 10.0 percent on capital goods. The annual rate of the Price Index for Domestic Supply excluding energy-related products was 9.1 percent.

Source: Statistics Sweden
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