FX.co ★ Sweden Producer Prices Plunge 7.7%

According to figures released by Statistics Sweden, the country's producer prices consistently decreased for eight consecutive months as of December. This was primarily due to an ongoing reduction in costs for energy-associated products.

In December, the producer price index fell notably by 7.7% as compared to the previous year, accelerating from a 4.2% decline witnessed in November. However, if we exclude energy-related products from the calculation, the annualized producer price index saw an uplift of 1.4%.

Focusing on the domestic market, prices saw a decrease of 9.8% in December. In terms of energy-related goods, there was a dramatic annual fall of 37.6% in December, contrasting with the fact consumer goods and capital goods saw an annual price rise of 3.4% and 5.0% respectively.

On a monthly basis, the producer prices made a rebound by 1.6% following a decrease of 1.4% from the previous month. Furthermore, the data revealed that the import prices fell by 2.7% on an annual scale, and the export price index was 5.0% lower.