Denmark Inflation May 2016


Inflation inches up in May

In May, consumer prices increased 0.2% on a monthly basis, which was a notch higher than the 0.1% increase observed in the previous month. According to Statistics Denmark (DST), the figure mainly reflected higher prices for hotels and restaurants as well as for furniture and housekeeping services. Conversely, prices for clothing items fell.

After a flat reading in April, inflation inched up to 0.1% in May, which was the highest result in three months. Harmonized consumer prices dropped 0.1% on an annual basis, which was above April’s reading (-0.3% year-on-year). Finally, annual average HICP inflation in May was 0.2%, which matched April’s result.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.7% in 2016, which is down 0.2 percentage points from last month’s estimate. For 2017, panelists expect inflation to average 1.5%.

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Denmark Inflation Chart

Denmark Inflation May 2016

Note: Year-on-year and month-on-month variation of consumer prices index in %.
Source: Statistics Denmark (DST)

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