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Financial News: Denmark Inflation Rises To 2.2%, Highest In 9

Denmark Inflation Rises To 2.2%, Highest In 9 Months

06/10/2024 - 09:48:00 (RTTNews)

(RTTNews) - Denmark's consumer price inflation increased in May to the highest level in nine months amid higher electricity costs, data from Statistics Denmark showed on Monday.

The consumer price index rose 2.2 percent year-over-year in May, faster than the 0.8 percent increase in April.

Further, this was the highest inflation since August 2023, when prices had risen 2.4 percent.

Utility costs, including electricity, grew 3.8 percent annually in May, reversing a 0.4 percent decrease a month ago.

The annual price growth in transportation charges accelerated to 1.8 percent from 0.8 percent. Meanwhile, prices for food and non-alcoholic beverages rose at a slower rate of 0.7 percent.

Core inflation, which excludes energy and unprocessed food, rose slightly to 1.6 percent from 1.5 percent.

On a monthly basis, consumer prices remained flat in May, versus a 0.1 percent rise in April.

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