Denmark Inflation July 2017

Denmark

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.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.2% in 2017, which is unchanged from last month’s estimate. For 2018, panelists expect inflation to average 1.6%.


Author:, Economist

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Denmark Inflation July 2017 0

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


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