Denmark: Inflation eases in November
December 10, 2013
In November, consumer prices fell 0.2% over the previous month, which contrasted the 0.2% rise observed in October. According to Statistics Denmark (DST), the figure mainly reflects higher prices for alcoholic beverages and tobacco, as well as for communication.
Annual headline inflation edged down from 0.7% in October to 0.5% in November. In addition, annual average inflation inched down from 1.0% in October to 0.9% in November. HICP inflation (based on the harmonized index of consumer prices) remained at the previous month's 3.0%, while annual average HICP inflation inched down from 0.8% in October to 0.6% in November.
The Central Bank expects HICP inflation to reach 0.8% this year and 1.9% in 2014. FocusEconomics Consensus Forecast panelists expect inflation to average 1.8% in 2013, unchanged from last month's estimate. For 2014, panelists expect inflation to average 1.9%, which is down 0.1 percentage points from last month's estimate.
Author: Dirina Mançellari, Senior Economist