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Financial News: Denmark Inflation Highest Since November 1982

Denmark Inflation Highest Since November 1982

11/10/2022 - 04:40:00 (RTTNews)

(RTTNews) - Denmark's consumer price inflation accelerated to the highest level in forty years in October, largely driven by goods prices, data from Statistics Denmark showed on Thursday.

Consumer price inflation rose marginally to 10.1 percent in October from 10.0 percent in September. A similar higher rate was last seen in November 1982.

Excluding energy and fresh food, core inflation rose to 6.2 percent in October from 5.9 percent in the previous month.

Goods prices alone grew 16.0 percent yearly in October, which was the highest rate of increase since June 1980.

Prices for food and non-alcoholic beverages gained 15.7 percent yearly in October and housing, water, electricity, gas and other fuels grew 14.2 percent.

Transport costs surged 10.6 percent from the last year and those for furnishings, household equipment and household maintenance rose 10.7 percent.

Prices for restaurants and hotels, and alcoholic beverages and tobacco increased by 8.8 percent and 8.5 percent, respectively.

On a monthly basis, consumer prices rose 1.0 percent in October, after a 1.3 percent growth in the prior month.

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