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Sunday, December 10 2023

Copenhagen: Denmark sees highest inflation since 1983

Copenhagen: Denmark sees highest inflation since 1983
Photo Credit : IANS
Copenhagen: Denmark’s consumer price inflation rose to the strongest level since early 1983, largely driven by higher food, fuel and utility costs, the country’s statistical office said.

According to Statistics Denmark, consumer price inflation accelerated to 8.7 per cent in July from 8.2 per cent in June, reports dpa news agency.

The latest inflation was the highest since February 1983, when it had risen the same 8.7 per cent, the office added.

Excluding energy and fresh food, core inflation rose to 5.5 per cent in July from 4.8 per cent in the previous month. This was the highest since February 1988.

Prices for food and non-alcoholic beverages alone grew 14.6 per cent annually in July, and transport costs surged 13.4 per cent.

Utility costs were 9.3 per cent more expensive compared to last year, and charges for restaurants and hotels rose 9.6 per cent.

Prices for goods logged an annual price growth of 13.2 per cent, which was the highest rate of increase since February 1982.

On a monthly basis, consumer prices gained 1.1 per cent in July.

The EU measure of harmonized index of consumer prices (HICP) grew 9.6 per cent in July, following a 9.1 per cent rise in the prior month.

On a monthly basis, the HICP moved up 1.2 per cent at the start of the third quarter.

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