Denmark: Inflation jumps to over-four-year high in July
August 10, 2017
Consumer prices increased 0.8% in July in month-on-month terms, contrasting the previous month’s 0.1% decrease and marking the highest reading in five months. Statistics Denmark (DST) reported that the result came on the back of higher prices for holiday-related items such as flights, package holidays and the rent of cottages. Those higher prices offset lower prices for clothing and footwear and hotels.
Inflation jumped from 0.6% in the previous month to 1.5% in July, the highest reading since December 2012. The result was primarily driven by higher prices for telecommunications, food, charter trips and holiday rentals. Meanwhile, the Harmonized Index of Consumer Prices (HICP) also came in at 1.5%, jumping from 0.4% in June.
Author: Jan Lammersen, Economist