Denmark: Inflation picks up slightly in May
June 10, 2013
In May, consumer prices rose 0.1% over the previous month, contrasting the 0.2% drop tallied in April. According to Statistics Denmark (DST), the print reflects higher prices for household equipment and healthcare.
Annual headline inflation rose from 0.8% in April to 0.9% in May. Owing to the subdued year-on-year increase, annual average inflation fell from 1.9% in April to 1.8% in May. Meanwhile, HICP inflation (based on the harmonized index of consumer prices) picked up from 0.4% in April to 0.6%. As a result, annual average HICP fell from 1.8% in April to 1.6% in May.
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%.