Denmark: Inflation edges up in October
November 11, 2013
In October, consumer prices rose 0.2% over the previous month, which was below the 0.3% increase recorded in September. According to Statistics Denmark (DST), the figure mainly reflects higher prices for clothing and footwear, recreation and culture, and for property.
Annual headline inflation edged up from 0.5% in September to 0.7% in October, marking the highest pace in four months. Conversely, annual average inflation fell from 1.2% in September to 1.0% in October. HICP inflation (based on the harmonized index of consumer prices) rose to 0.3% (September: +0.2% year-on-year), while annual average HICP inflation inched down from 0.9% in September to 0.8%.
The Central Bank expects HICP inflation to reach 0.8% this year and 1.9% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 1.8% in 2013. For 2014, panelists expect inflation to average 1.9%, which is down 0.1 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist