Denmark Inflation December 2020

Denmark

Denmark: Inflation stable in December

January 11, 2021

Consumer prices fell 0.19% in December over the previous month, worsening from November’s 0.10% drop and marking the sharpest price decrease in four months. Looking at the details of the release, December’s fall was driven by lower prices for food, clothing, and air travel.

Inflation in December was unchanged at 0.5%, matching November’s reading. However, core inflation ticked down to 1.0% in December from November’s 1.2%. Meanwhile, the trend was unchanged, with annual average inflation in December coming in at November’s 0.4%.

Looking ahead, inflation is set to pick up mildly this year from 2020’s muted price pressures. Household and capital spending will likely rebound this year as the economic recovery strengthens and on prospects of a rapid vaccine rollout, thus boosting price pressures this year.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.9% in 2021, which is down 0.1 percentage points from last month’s forecast. For 2022, panelists project inflation to average 1.1%.


Author:, Junior Economist

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Denmark Inflation December 20 20 1

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


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