Denmark: Inflation accelerates to over one-year high in January
February 11, 2019
According to Statistics Denmark, consumer prices rose 0.2% over the previous month in January, swinging from the 0.3% dip recorded in December. The increase was driven by higher prices for alcoholic beverages and tobacco; food and non-alcoholic beverages; and leisure and culture. On the other hand, a sharp decrease in clothing and footwear prices due to winter sales partially offset the month-on-month rise.
Inflation jumped to an over one-year high of 1.3% in January from 0.8% in December. Meanwhile, annual average inflation edged up to 0.9% in January from 0.8% in December.
Denmark Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 1.3% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect inflation to average 1.6%.
Author: Lindsey Ice, Economist