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.
Author: Jan Lammersen, Economist