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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWEDEN
Sweden producer and trade price data for September showed further Y/Y declines with the exception of export prices, which rose +0.8% Y/Y.
- PPI printed at -4.6% Y/Y (vs -5.9% prior) and rose +1.8% M/M (vs -0.7% prior). The M/M print was pushed upwards by prices on refined petroleum, motor vehicles and other manufactured products. However, despite the M/M rise in energy prices, the Y/Y print was once again negative as energy prices rose at a slower pace than in September last year.
- Food and electricity prices applied downward pressure to the index, suggesting that base effects will still play a role in pulling down the headline CPI index in the coming months.
- Once again, the weaker krona applied upward pressure to import and export price indices, which rose +4.1% M/M and +3.4% M/M respectively (although import prices still fell -0.7% Y/Y), though higher crude prices also pushed up monthly import prices.
- SEK did not see much of a reaction to the print, which is not usually a market mover, but recent comments from Riksbank's Breman suggests the Riksbank are looking at upstream prices' effects on CPI more closely, and further details may be provided in the November Monetary Policy Report.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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