Denmark Inflation August 2017

Denmark

Denmark: Inflation steadies at over four-year high in August

September 11, 2017

Consumer prices fell 0.3% in August in monthly terms, contrasting the previous month’s 0.8% increase and marking the lowest level in a year. According to Statistics Denmark (DST), the result came chiefly on the back of lower month-on-month prices for leisure and culture and restaurants and hotels, which more than offset a significant increase in prices for clothing and footwear.

Inflation, on the other hand, was steady at July’s 1.5% in August, the highest reading since December 2012. Higher year-on-year prices for restaurants and hotels and food and non-alcoholic beverages drove the result in August. Simultaneously, the Harmonized Index of Consumer Prices (HICP) was also steady at the previous month’s reading of 1.5%, while annual average HICP increased from 0.5% in July to 0.7% in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.1% in 2017, which is down 0.1 percentage points from last month’s estimate. For 2018, panelists expect inflation to average 1.5%.


Author:, Economist

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Denmark Inflation Chart


Denmark Inflation August 2017

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


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