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Financial News: Sweden Producer Price Inflation Highest In 3 Decades

Sweden Producer Price Inflation Highest In 3 Decades

12/22/2021 - 08:03:00 (RTTNews)

(RTTNews) - Sweden's domestic producer prices rose in November at the fastest annual rate in 30 years, Statistics Sweden said Wednesday. The domestic producer price index rose 18.1 percent year-on-year after a 16.8 percent increase in October. The biggest upward contribution came from trade services of electricity, the agency said.

The annual rate of change in producer prices for the export market hit a record high of 18.1 percent versus 17.1 percent in the previous month. Producer price inflation for the import market eased slightly to 17.2 percent from 17.5 percent.The main downward contribution came from lower prices on crude oil. The total producer price inflation was also 18.1 percent, the highest in 30 years.

Prices rose 50.9 percent annually for energy-related products, 4.2 percent for capital goods, and 2.9 percent for consumer goods. Excluding energy, producer price inflation was 13.8 percent. The price index for domestic supply rose 17.6 percent year-on-year in November, also the highest in three decades.

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