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Denmark Inflation November 2022

Denmark: Inflation softens for first time in 11 months in November

Inflation eased for the first time since December 2021 in November, coming in at 8.9%, down from Octobers four-decade high of 10.1%. Looking at the details of the release, the moderation was driven chiefly by transport prices growth falling to 7.6% from 10.6% the prior month. Additionally, softer price increases for food and non-alcoholic beverages, and housing and utilities also contributed to the easing of headline inflation.

Still, the trend pointed up, with annual average inflation coming in at 7.2% in November (October: 6.8%). Meanwhile, core inflation also ticked down in November, easing to 6.0% (October: 6.2%).

Finally, consumer prices declined a seasonally adjusted 0.85% in November over the previous month (October: +1.03%). The result marked the first decline in consumer prices since December 2021 and the sharpest one since our current records began in February 1990.

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