Denmark Inflation November 2021

Denmark

Denmark: Inflation increases to over 13-year high in November

December 10, 2021

Consumer prices rose a seasonally-adjusted 0.28% in November over the previous month, coming in below the 0.95% increase logged in October. November's result marked the weakest reading since August. Looking at the details of the release, the moderation was largely driven by softer growth in prices for housing and utilities. In addition, price pressures for transportation moderated.

Inflation came in at 3.4% in November, up from October’s 3.0%. November's reading marked the highest inflation rate since October 2008. Consequently, the trend pointed up, with annual average inflation coming in at 1.6% in November (October: 1.4%). Lastly, core inflation rose to 1.6% in November, from the previous month's 1.4%.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.6% in 2022, which is up 0.2 percentage points from last month’s forecast. For 2023, panelists project inflation to average 1.4%.


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Denmark Inflation November 2021 0

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


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