Denmark Inflation

Inflation stabilizes in June

Latest reading: Consumer prices rose 1.9% in annual terms in June, unchanged from the prior month's reading and significantly below the EU average. Relative to the prior month's figures, there were higher price pressures for housing and utilities (+0.5% in annual terms vs +0.4% in May) and clothing and footwear (+2.3% vs +0.1% in May). In contrast, there were milder price pressures for transportation (+4.5% vs +5.3% in May), while prices for food and non-alcoholic beverages declined at a faster rate (-0.9% vs -0.3% in May). Although transportation remained the largest contributor to inflation—driven mainly by rising fuel prices—pressures in this category eased in June, while electricity prices continued to decline following the government’s decision to reduce its electricity tax at the start of the year. These disinflationary factors were offset by increased price pressures for hotel nights and clothing, ultimately leaving the reading unchanged from last month. Meanwhile, core consumer prices were up 2.3% on a year-on-year basis in June, following a 2.1% increase in the prior month. Finally, consumer prices rose 0.24% in June on a month-on-month basis, following a 0.58% rise in the prior month.

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