Denmark Inflation October 2020

Denmark

Denmark: Inflation eases in October

November 10, 2020

Consumer prices inched up 0.19% in October over the previous month, contrasting the 0.10% fall recorded in September. Looking at the details of the release, October’s reading largely reflected higher prices for electricity, air travel and holiday rentals.

Inflation in October inched down to 0.4%, from September’s 0.6%, marking the lowest inflation rate in four months. Moreover, core inflation decreased to 0.9% in October from September’s 1.0%. Meanwhile, the trend remained unchanged for the seventh month running, with annual average inflation standing at 0.5% in October.

Looking ahead, price pressures are seen remaining largely stable until year-end. However, inflation is expected to rise at a stronger pace next year due to the anticipated economic recovery and strengthening aggregate demand.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.0% in 2021, which is unchanged from last month’s forecast. For 2022, panelists project inflation to average 1.1%.


Author:, Junior Economist

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Denmark Inflation Chart


Denmark Inflation October 20 20

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


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