Denmark Inflation

Denmark

Denmark: Denmark records lowest inflation rate in over 60 years

January 12, 2015

In December, consumer prices fell 0.23% over the previous month, which mirrored November’s result. According to Statistics Denmark (DST), the figure mainly reflected lower prices for clothing and footwear, as well as for transportation.

Annual headline inflation fell from November’s 0.5% to a record low level of 0.3% in December. Annual average inflation for 2014 was 0.6%, which was below the 0.8% recorded in 2013. The figure marked the lowest level in over 60 years. In addition, HICP inflation (based on the harmonized index of consumer prices) fell from November’s 0.2% to 0.1% in December. Annual average HICP inflation averaged0.3% in 2014, which was below 2013’s 0.5%.

The Central Bank expects HICP inflation of 1.3% in 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2015, which is down 0.2 percentage points from last month’s estimate. For 2016, panelists expect inflation to average 1.5%.


Author: Angela Bouzanis, Senior Economist

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Denmark Inflation Chart


Denmark Inflation December 2014

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


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