Denmark Inflation October 2021

Denmark

Denmark: Inflation comes in at highest level in over a decade in October

November 10, 2021

Consumer prices increased a seasonally-adjusted 0.95% in October over the previous month, picking up markedly from September's 0.28% rise. October's uptick marked the highest reading since February 2015. Looking at the details of the release, higher prices for electricity, as well as for transport compared to the previous month contributed to the acceleration.

Inflation increased to 3.0% in October, following September’s 2.2%. October's result marked the highest inflation rate since July 2011. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.4% in October (September: 1.2%). Lastly, core inflation rose to 1.4% in October, from the previous month's 1.3%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, panelists project inflation to average 1.4%.


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Denmark Inflation October 2021

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


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