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SWEDEN: Food Prices Continue To Climb According To October PPI Report

SWEDEN
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Swedish producer prices rose 0.5% M/M in October but fell 1.3% on an annual comparison (vs -2.3% prior). The price index for domestic supply, which provides a better signal of domestic price pressures, rose 0.7% M/M but fell 2.4% Y/Y (vs -3.0% prior). 

  • Excluding energy, domestic supply prices rose 0.2% M/M and 0.3% Y/Y (vs 0.2% prior). On a 3m/3m basis, price growth remained negative.
  • Consumer goods (ex-food) prices rose 0.5% M/M, but the annual and 3m/3m comparisons were also negative.
  • Food prices – which were a point of concern for some Executive Board members in the Riksbank’s November meeting minutes – continued to climb on domestic and import markets. Food prices rose 2.9% Y/Y (vs 2.0% prior).
  • Domestic energy prices rose 3.4% M/M, driven by higher prices on “trade services of electricity and district heating” and “refined petroleum products”.

 

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Swedish producer prices rose 0.5% M/M in October but fell 1.3% on an annual comparison (vs -2.3% prior). The price index for domestic supply, which provides a better signal of domestic price pressures, rose 0.7% M/M but fell 2.4% Y/Y (vs -3.0% prior). 

  • Excluding energy, domestic supply prices rose 0.2% M/M and 0.3% Y/Y (vs 0.2% prior). On a 3m/3m basis, price growth remained negative.
  • Consumer goods (ex-food) prices rose 0.5% M/M, but the annual and 3m/3m comparisons were also negative.
  • Food prices – which were a point of concern for some Executive Board members in the Riksbank’s November meeting minutes – continued to climb on domestic and import markets. Food prices rose 2.9% Y/Y (vs 2.0% prior).
  • Domestic energy prices rose 3.4% M/M, driven by higher prices on “trade services of electricity and district heating” and “refined petroleum products”.