Denmark Inflation August 2021

Denmark

Denmark: Inflation hits over eight-year high in August

September 10, 2021

Consumer prices fell a seasonally-adjusted 0.19% in August over the previous month, swinging from July's 0.67% rise. August's result marked the weakest reading since December 2020. Looking at the details of the release, food and non-alcoholic beverages prices dropped in August compared to the previous month and prices for transportation also fell.

Inflation increased to 1.8% in August, slightly above July’s 1.6%. August's result represented the highest inflation rate since December 2012. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.0% in August (July: 0.9%). Lastly, core inflation ticked up to 1.0% in August, from the previous month's 0.9%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.3% in 2021, which is up 0.1 percentage points from last month’s forecast. For 2022, panelists project inflation to average 1.3%, which is also up 0.1 percentage points from the prior month’s estimate.


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Denmark Inflation August 2021

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


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