Denmark: Inflation inches up in September
October 10, 2013
In September, consumer prices increased 0.3% over the previous month, which was above the 0.1% rise registered in August. According to Statistics Denmark (DST), the reading mainly reflected higher prices for food and non-alcoholic beverages, which offset lower prices for recreation and culture.
Annual headline inflation inched up from 0.4% in August to 0.5% in September. Moreover, annual average inflation inched down from 1.3% in August to 1.2% in September. HICP inflation (based on the harmonized index of consumer prices) increased from 0.1% in August to 0.2% in September, while annual average HICP inflation, fell from 1.1% in August to 0.9% in September.
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. 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