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Financial News: Denmark Inflation Lowest In 5 Months, Industrial Output

Denmark Inflation Lowest In 5 Months, Industrial Output Rebounds

01/10/2023 - 03:50:00 (RTTNews)

(RTTNews) - Denmark's consumer price inflation eased further in December to the lowest level in five months amid a slight moderation in the price growth of food and non-alcoholic beverages, data from Statistics Denmark showed on Tuesday.

Separate official data showed that industrial production rebounded strongly in November.

The consumer price index rose 8.7 percent year-over-year in December, slower than the 8.9 percent increase in November.

Excluding energy and fresh food, core inflation rose to 6.6 percent in December from 6.0 percent in the previous month.

Goods prices alone grew 12.8 percent yearly in December, largely due to annual price increases for electricity and food.

Prices for food and non-alcoholic beverages gained 14.9 percent yearly in December versus a 15.3 percent surge a month ago. Transportation charges were 8.2 percent more expensive compared to last year.

On a monthly basis, consumer prices dropped 0.6 percent in November, following a 0.9 percent fall in the prior month.

Another report from the statistical office revealed that industrial production advanced 2.4 percent monthly in November, in contrast to a revised 2.7 percent decline in October.

Among sectors, the transport industry had the largest positive contribution in November, which grew 19.6 percent over the month, followed by the machine industry with 15.6 percent growth.

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