Denmark Inflation June 2022

Denmark

Denmark: Inflation comes in at highest level in nearly four decades in June

July 11, 2022

Consumer prices increased a seasonally-adjusted 0.80% over the previous month in June, below May's 0.90% increase. June's result marked the weakest reading since March. The result was driven by moderating price pressures for transportation and food and non-alcoholic beverages. Moreover, prices for recreation and culture grew at a more subdued pace.

Inflation came in at 8.2% in June, up from May’s 7.4%. June's reading marked the highest inflation rate since February 1983. Consequently, the trend pointed up, with annual average inflation rising to 4.3% in June (May: 3.8%). Lastly, core inflation rose to 4.8% in June, from May’s 4.4%.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.7% in 2022, which is up 0.4 percentage points from last month’s forecast. For 2023, panelists project inflation to average 2.7%.


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Denmark Inflation June 2022

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


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