Latest reading: Consumer prices fell 0.1% on an annual basis in May, swinging from April’s 0.4% increase. May’s result marked...
Inflation in Denmark
In the year 2024, the inflation in Denmark was 1.37%, compared to 0.56% in 2014 and 3.31% in 2023. It averaged 1.69% over the last decade. For more inflation information, 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 holds steady in April
Latest reading: Inflation held steady at March’s 1.5% level in April, marking the joint-lowest reading in over half a year. This result undershot the 2.0% target of the ECB, whose monetary policy decisions Denmark follows due to the krone’s peg to the euro. The release presented a mixed bag of price pressures; easing food inflation was offset by higher housing inflation and flat transport prices following last month’s decline. Annual average inflation also mirrored March’s reading, with April recording 1.6%. That said, core inflation edged up to 1.7% in April, from 1.6% in the previous month. Finally, consumer prices rebounded in April, rising by 0.08% from March’s 0.50% fall.
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 9 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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