In October, Sweden experienced a decline in producer prices for the second consecutive month, primarily influenced by a significant drop in energy-related product prices, according to data released by Statistics Sweden on Tuesday.
The producer price index experienced a decrease of 1.3% from the previous year in October, a less sharp decline compared to the 2.3% decrease observed in September.
Energy-related product costs plummeted by 12.9% compared to the previous year, while capital goods prices saw a minor decline of 0.1%. Conversely, consumer goods prices rose by 1.8%.
Excluding energy-related items, the producer price index on an annual basis demonstrated an increase of 0.5%.
In the domestic market, prices rose by 0.9%, up from a 0.2% increase in September.
On a monthly basis, producer prices increased by 0.5% in October, recovering from a 1.8% decline in the prior month.
The data further revealed that import prices fell by 5.0% on an annual scale, while the export price index decreased by 3.4%.
