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Denmark Inflation August 2023

Denmark: Inflation falls to over one-year low in August

Inflation fell to 2.4% in August from July’s 3.1%. August’s figure represented the lowest inflation rate since September 2021. Looking at the details of the release, the moderation was primarily due to prices for recreation and culture growing at a more subdued pace. Moreover, prices for housing and utilities fell year on year.

Accordingly, the trend pointed down, with annual average inflation coming in at 6.3% in August (July: 6.8%). Meanwhile, core inflation fell to 4.2% in August, from the previous month’s 5.3%.

Lastly, consumer prices fell a seasonally adjusted 0.68% in August over the previous month, swinging from July’s 1.80% rise. August’s result marked the weakest reading since May.

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