Latest reading: Inflation ticked down to 4.0% in August from July’s 4.3%. August’s figure marked the lowest inflation rate since...
Inflation in Denmark
Consumer price inflation in Denmark averaged 1.7% in the ten years to 2024, in line with the Nordic Economies regional average of 2.4%. The 2024 average figure was 1.4%. For more information on inflation, visit our dedicated page.
Denmark Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Denmark from 2024 to 2023.
Source: Macrobond.
Denmark Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 0.4 | 1.9 | 7.7 | 3.3 | 1.4 |
| Inflation (CPI, ann. var. %, eop) | 0.5 | 3.1 | 8.7 | 0.7 | 1.9 |
| Inflation (Core, ann. var. %, aop) | 0.9 | 1.1 | 4.7 | 4.8 | 1.5 |
| Inflation (PPI, ann. var. %, aop) | -2.7 | 13.6 | 28.9 | -0.3 | 3.4 |
Inflation reaches near two-year high in July
Latest reading: Inflation increased to 2.3% in July, following June’s 1.9%. July's result marked the highest inflation rate since August 2023. Looking at the details of the release, the acceleration was largely driven by rising price pressures for food plus housing and utilities. On the flip side, transport costs fell at the steepest clip in 10 months in July. Accordingly, the trend pointed up mildly, with annual average inflation coming in at 1.7% in July (June: 1.6%). Meanwhile, core inflation rose to 2.2% in July from the previous month's 1.9%. Lastly, consumer prices increased 1.49% in July over the previous month, accelerating from June's 0.25% increase. July's jump marked the highest reading since July 2023.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Danish inflation projections for the next ten years from a panel of 12 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Danish inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Danish inflation projections.
Want to get access to the full dataset of Danish inflation forecasts? Send an email to info@focus-economics.com.
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