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Denmark Inflation May 2023

Denmark: Inflation drops to lowest level since September 2021 in May

Inflation eased to 2.9% in May below April’s 5.3%. May’s result marked the weakest inflation rate since September 2021. Looking at the details of the release, the decline was broad-based, with reduced price pressures recorded for housing and utilities, transportation, and food and non-alcoholic beverages. Moreover, prices for recreation and culture also grew at a more subdued pace.

Consequently, the trend pointed down, with annual average inflation coming in at 7.8% in May (April: 8.2%). Meanwhile, core inflation fell to 5.0% in May, from the previous month’s 6.1%.

Finally, consumer prices fell a seasonally adjusted 1.36% over the previous month in May, swinging from April’s 0.26% rise.

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