Denmark Inflation May 2020


Denmark: Consumer prices are flat in annual terms in May

June 10, 2020

Consumer prices fell a seasonally-adjusted 0.10% over the prior month in May, in line with the 0.10% drop seen in April. Looking at the details of the release, housing and utilities prices fell at a moderate rate in May. Price pressures for transportation also dropped.

Consumer prices were flat in annual terms in May, matching April's result. Meanwhile, the trend was unchanged, with annual average inflation coming in at April's 0.5%. Core inflation fell to 0.7% from April’s 0.8%.

Looking ahead, price pressures are seen picking up slightly, but soft economic activity and continuing low oil prices will keep inflation low nonetheless.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.4% in 2020, which is down 0.2 percentage points from last month’s forecast. For 2021, panelists project inflation to average 1.0%.


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Denmark Inflation Chart

Denmark Inflation May 20 20

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

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