Denmark Inflation March 2021


Denmark: Inflation hits near two-year high in March

April 12, 2021

Consumer prices rose a seasonally-adjusted 0.10% in March over the previous month, which was below February's 0.58% increase. Looking at the details of the release, March’s print reflected higher prices for petrol and diesel, while price pressures for food eased.

Inflation came in at 1.0% in March, up from February’s 0.6%. March's figure was the highest inflation rate since April 2019. Meanwhile, the trend was unchanged for the fifth month running, with annual average inflation coming in at February's 0.4% in March. Lastly, core inflation was steady, coming in at February's 0.8% in March.

Looking ahead, inflation is seen remaining broadly stable at its current levels in Q2. Late in the year, it is projected to pick up as economic activity strengthens amid the gradual rollout of Covid-19 vaccines and the lifting of restrictions. Moreover, continued low lending rates and robust growth in spending are set to bolster prices ahead.

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 1.2%.

Author:, Junior Economist

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Denmark Inflation Chart

Denmark Inflation March 2021

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

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