Denmark: Inflation inches down in March
April 10, 2014
In March, consumer prices rose 0.1% over the previous month, which was below the 0.7% rise tallied in February. According to Statistics Denmark (DST), the figure mainly reflects that higher prices for leisure and culture as well as for furniture more than offset lower prices for food and non-alcoholic beverages.
Annual headline inflation inched down from 0.5% in February to 0.4% in March, which marked the lowest rate on record. Annual average inflation remained at February's 0.7%. HICP inflation (based on the harmonized index of consumer prices) fell from 0.3% in February to 0.2% in March, while annual average HICP inflation remained at February's 0.4%.
The Central Bank expects HICP inflation to be 1.8% in both 2014 and 2015. FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2014, which is unchanged from last month's estimate. For 2015, panelists expect inflation to average 1.6%.
Author: Dirina Mançellari, Senior Economist