Denmark Inflation November 2020

Denmark

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.

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 November 20 20

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


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