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Financial News: Denmark Inflation Highest Since May 1983

Denmark Inflation Highest Since May 1983

06/10/2022 - 05:25:00 (RTTNews)

(RTTNews) - Denmark's inflation accelerated at the fastest pace since May 1983, data from Statistics Denmark showed on Friday.

Consumer prices increased 7.4 percent annually in May, following a 6.7 percent rise in April.

The latest inflation was the highest since May 1983, when prices were up 7.6 percent.

Excluding energy and fresh food, core inflation rose to 4.4 percent in May from 3.6 percent in the previous month. This was the highest since October 1989.

Transport costs grew 13.0 percent annually in May and prices for food and non-alcoholic beverages increased 10.1 percent.

Prices for housing, electricity and heating gained 9.1 percent. Prices for furnishing, household services, and restaurants and hotels rose 7.4 percent and 7.1 percent, respectively.

Prices for alcoholic beverages and tobacco advanced 7.0 percent and those of leisure and culture climbed 3.2 percent.

On a monthly basis, consumer prices rose 0.9 percent in May, data showed.

The EU measure of harmonized index of consumer prices grew 4.4 percent in May, following a 3.6 percent rise in the prior month.

On a monthly basis, HICP gained 0.9 percent in May.

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