Denmark: Inflation moderates further in February
March 11, 2013
In February, consumer prices jumped 1.2% over the previous month, which contrasted the 0.4% decrease seen in January. According to Statistics Denmark (DST), the reading reflected higher prices for clothing and footwear as well as for housing and transport.
Annual headline inflation inched down from 1.3% in January to 1.2% in February, the lowest level since October 2009. In addition, annual average inflation inched down to 2.2% from 2.3% in January. Meanwhile, HICP inflation (based on the harmonized index of consumer prices) remained unchanged at January's 1.0%- As a result, annual average HICP inched down from 2.2% in January to 2.1% in February.
The Central Bank expects HICP inflation to reach 2.5% this year and 1.8% the next. FocusEconomics Consensus Forecast panellists expect inflation to average 1.8% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect inflation to average 1.9%.