Denmark Inflation RateFebruary 2023 Data - 1981-2022 Historical - March Forecast

Denmark's annual inflation rate ticked down to a nine-month low of 7.6% in February 2023 from 7.7% in the previous month, largely due to changes in the prices of gas. Prices slowed mainly for electricity and heating (6.4% vs 6.6% in January), household services (8.4% vs 10.9%), health (2.6% vs 2.7%), transport (6.5% vs 7.9%), and education (3% vs 3.1%). Meantime, cost accelerated for food and non-alcoholic beverages (14.8% vs 14.5%), alcoholic beverages, and tobacco (9.1% vs 9.0%). clothing (5.7% vs 4.8%), communication (6.7% vs 5.5%), leisure & culture (5.3% vs 4.9%), restaurants and hotels (11.5% vs 10.0%), and other goods and services (5.3% vs 5.0%). On a monthly basis, consumer prices increased by 0.9% in February, the most in four months, after a 0.4% rise in January. The harmonized index of consumer prices rose by 8.3%, after an 8.4% gain in January. In 2022, consumer prices increased by 7.7%.

Denmark's annual inflation rate dropped to 7.7% in January 2023 from 8.7% in the prior month, pointing to the lowest level since last May, largely due to a slowdown in electricity, gas and other fuels inflation (18.4% vs 39.7% in December). Prices increased at a slower pace for: housing (6.6% vs 9.7% in December), transport (7.9% vs 8.1%), food and non-alcoholic beverages (14.5% vs 14.9%), communication (5.5% vs 6.2%), furnishing and household equipment (10.9% vs 12.6%), and health (2.7% vs 3.2%). Meanwhile, prices continued to climb for alcoholic beverages and tobacco (9.0% vs 7.7%), education (3.1% vs 2.5%), clothing (4.8% vs 3.8%), restaurants and hotels (10.0% vs 8.9%), recreation & culture (4.9% vs 4.8%), while miscellaneous goods and services inflation was steady (at 5.0%). On a monthly basis, consumer prices rose 0.4%, rebounding from a 0.6% fall in December. The harmonized index of consumer prices went up 8.4%, following a 9.6% increase in December.

Denmark's annual inflation rate fell to 8.7% in December 2022 from 8.9% in the prior month, with prices of residential use, electricity, and heating driving up the most the headline figures. The latest print was the lowest in 5 months, amid a slowdown in prices of both food and non-alcoholic beverages (14.9% vs 15.3% in November) and alcoholic beverages and tobacco (7.7% vs 7.8%). Meantime, inflation was unchanged for both health (at 3.2%) and education (at 2.5%), while cost accelerated for clothing (3.8% vs 3.4%), household services (12.6% vs 11.6%), communication (6.2% vs 3.5%), leisure & culture (4.8% vs 3.6%), restaurants and hotels (8.9% vs 8.7%), and other goods and services (5.0% vs 4.7%). On a monthly basis, consumer prices fell 0.6%, the second straight month of decline, after a 0.9% drop in November. The harmonized index of consumer prices went up 9.6%, after a 9.7% gain in November. For the full year of 2020, consumer prices increased by 7.7%.