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Denmark Inflation August 2022

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

Inflation edged up to 8.9% in August, slightly above July’s 8.7%. August’s figure was the highest inflation rate since early 1983. Looking at the details of the release, prices for housing and utilities rose at a faster rate in August. Moreover, food and non-alcoholic beverages prices accelerated. In contrast, prices for transportation, and for recreation and culture increased at slower rates. Consequently, annual average inflation rose to 5.5% in August (July: 4.9%). Meanwhile, core inflation rose to 6.0% in August, from July’s 5.5%.

Finally, consumer prices recorded zero growth over the previous month in August, below July’s 1.14% rise. August’s result marked the weakest reading since December 2021.

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