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Denmark Inflation July 2022

Denmark: Inflation comes in at highest level since February 1983 in July

Consumer prices increased a seasonally-adjusted 1.14% in July over the previous month, picking up from the 0.80% increase recorded in June. Looking at the details of the release, the acceleration was primarily driven by increasing prices for housing and utilities. In addition, price pressures for food and non-alcoholic beverages rose at a quicker rate.

Inflation rose to 8.7% in July from June’s 8.2%. July’s result marked the highest inflation rate since February 1983. Consequently, the trend pointed up, with annual average inflation coming in at 4.9% in July (June: 4.3%). Finally, core inflation rose to 5.5% in July, from June’s 4.8%.

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