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Financial News: Denmark Inflation Highest Since June 1984

Denmark Inflation Highest Since June 1984

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

(RTTNews) - Denmark inflation accelerated to the highest level since June 1984, driven by rising prices of electricity, food, fuel and gas, preliminary data from Statistics Denmark showed on Tuesday.

The consumer price index rose 6.7 percent yearly in April, following a 5.4 percent increase in March.

The latest inflation was the highest since June 1984, when prices rose 6.8 percent year-on-year.

Excluding energy and fresh food, core inflation increased to 3.6 percent in April from 3.2 percent in the previous month. This is the highest since January 1990.

Price increases for tobacco and rental of holiday homes drove core inflation higher, the statistical office said.

The biggest impact on overall CPI came from prices for housing use, electricity and heating that increased 9.8 percent.

Transport costs grew 10.9 percent annually in April.

Prices for food and non-alcoholic beverages gained 7.1 percent and those of restaurants and hotels rose 7.6 percent.

On a monthly basis, consumer prices rose 1.6 percent in April.

The EU measure of harmonized index of consumer prices, or HICP rose 7.4 percent in April, following a 6.0 percent increase in the prior month.

On a month-on-month basis, the HICP grew 1.8 percent in April.

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