Denmark: Inflation inches up in November
December 10, 2020
Consumer prices fell 0.10% in November over the previous month, swinging from the 0.19% increase recorded in October. Looking at the details of the release, November’s fall was driven by lower prices for electricity and air travel, likely due to lingering lockdowns and restrictions on mobility.
Inflation in November ticked up to 0.5%, from October’s 0.4%. Moreover, core inflation increased to 1.2% in November from October’s 0.9%. Meanwhile, the trend pointed down, with annual average inflation coming in at 0.4% after seven months unchanged at 0.5%.
Looking ahead, price pressures are seen remaining broadly stable for the remainder of the year. Next year, inflation is expected to pick up the pace due to the anticipated economic recovery and a tighter labor market.
Author: Marta Casanovas , Junior Economist