Stockholm, Sweden – The monthly development of the Producer Price Index (PPI) showed a decrease of 1.0 percent in April compared to March 2023, primarily driven by lower energy prices. On the export market, prices dropped by 0.4 percent, while on the domestic market, they decreased by 1.6 percent. Import prices, however, experienced a slight increase of 0.3 percent. In comparison to April 2022, the PPI increased by 1.3 percent (compared to 3.5 percent in March).
Key Highlights:
- Energy-related goods contributed to the downward trend, accounting for a 1.0 percentage point decrease in the PPI.
- Lower prices for paper and paper products had a negative impact across all markets.
- The annual rate for the PPI reached its lowest level since January 2021.
- The annual rate for consumer goods within the Domestic Supply Price Index was 13.1 percent in April (compared to 13.8 percent in March).
The Recent Monthly Development: In April, there was a negative monthly change in the PPI for both the domestic and export markets, while the import market experienced a positive change. Consequently, the PPI and the price index for domestic supply both reported a negative monthly change during the same period.
On the domestic market, the main contributing factor was a seasonal decrease in district heating prices. Prices also declined in the trade of electricity, refined petroleum products, as well as paper and paper products. However, these decreases were offset by price increases in wood and wood products, metal alloy services, and sustainably treated meat and meat products.
On the export market, lower prices for paper and paper products, as well as electricity generation, were the primary factors driving the downward trend. Prices also declined in the sectors of food, chemicals and chemical products, and refined petroleum products. However, these decreases were partly offset by price increases in metals, other machinery, as well as sawn and planed wood.
The import market saw the largest positive contribution from the price increase in crude oil. Prices also increased in electrical equipment, metals, computers, electronic goods, and optics. However, these increases were offset by price decreases in refined petroleum products, chemicals and chemical products, paper and paper products, other machinery, and food.
Major Contributions to Total Change, March 2023 – April 2023:
- Product Group according to SPIN 2015: Crude oil (0.6 percentage points), Sustainable treated meat and meat products (0.1 percentage points), Wood and wood products (0.2 percentage points), Paper and paper products (-0.1 percentage points), Refined petroleum products (-0.3 percentage points), Metallurgy services (0.1 percentage points), Electrical equipment (0.1 percentage points), Other machinery (-0.1 percentage points), Electricity generation (-0.2 percentage points), and District heating (-1.0 percentage points).
The Yearly Development: In April, the annual rate for the domestic market was 0.1 percent (compared to 2.4 percent in March). The export market reported an annual rate of 2.9 percent during the same period (compared to 4.9 percent in March). The import market’s annual rate in April was 2.7 percent (compared to 3.2 percent in March).
The annual rate for the PPI in April was 1.3 percent. Compared to the same period the previous year, prices for energy-related goods decreased by 14.4 percent. Consumer goods saw a price increase of 11.3 percent, while investment goods increased by