Denmark Inflation June 2020

Denmark

Denmark: Inflation rises in June but remains muted

July 10, 2020

Consumer prices increased a seasonally-adjusted 0.10% over the previous month in June, contrasting the 0.10% fall recorded in May. June's result was the sharpest increase in prices since February. The rebound was driven by greater price pressures for housing and utilities, transportation, and food and non-alcoholic beverages.

Inflation came in at 0.3% in June, contrasting May’s flat reading. Annual average inflation remained at May's 0.5% in June. Lastly, core inflation ticked up to 0.9% from the previous month's 0.7%.

Looking ahead, price pressures are seen picking up slightly, but soft economic activity and continuing low oil prices will keep inflation low nonetheless.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.4% in 2020, which is unchanged from last month’s forecast. For 2021, panelists project inflation to average 1.0%.


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Denmark Inflation June 20 20

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


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