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Denmark Inflation January 2023

Denmark: Inflation falls to eight-month low in January

Inflation receded to 7.7% in January from December’s 8.7%. January’s reading marked the lowest inflation rate since May 2022. Looking at the details of the release, January’s moderation was chiefly due to prices for housing and utilities rising at a softer rate, while prices for transportation rose at a marginally slower pace compared to the previous month’s reading. Meanwhile, food and non-alcoholic beverages price growth also moderated.

However, the trend pointed up, with annual average inflation coming in at 8.0% in January (December: 7.7%). Meanwhile, core inflation was stable, coming in at December’s 6.6% in January.

Finally, consumer prices rose a seasonally adjusted 0.43% in January over the previous month, contrasting December’s 0.60% fall. January’s result was the highest reading since October 2022.

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