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Denmark Inflation July 2023

Denmark: Inflation increases in July

Inflation came in at 3.1% in July, up from June’s 2.5%. Looking at the details of the release, the acceleration was largely driven by stronger increases in prices for alcoholic beverages and tobacco, for leisure and culture and for restaurants and hotels. Meanwhile, prices for housing and utilities and for transportation declined at slower rates.

Still, the trend pointed down, with annual average inflation falling to 6.8% in July (June: 7.3%). Meanwhile, core inflation rose to 5.3% in July, from the previous month’s 4.9%.

Finally, consumer prices rose a seasonally adjusted 1.80% in July over the previous month, accelerating from June’s 0.34% rise. July’s increase was the steepest since our current records began in September 1992.

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