Financial News: Denmark Inflation Slows Further To 1.1%

Denmark Inflation Slows Further To 1.1%

08/12/2024 - 04:32:00 (RTTNews)

(RTTNews) - Denmark's consumer price inflation eased for the second straight month in July amid a slowdown in the price growth of electricity, data from Statistics Denmark showed on Monday.

The consumer price index rose 1.1 percent year-over-year in July, slower than the 1.8 percent increase in May. Further, this was the weakest inflation in three months.

The annual price growth in electricity and heating for residential use slowed to 2.2 percent from 4.1 percent in June. Clothing and footwear prices were 1.4 percent less expensive.

Transportation charges rose at a stable rate of 1.2 percent, while food and non-alcoholic beverages increased at a slightly faster rate of 0.8 percent versus 0.6 percent in June.

Core inflation, which excludes energy and unprocessed food, softened to 1.0 percent from 1.3 percent.

On a monthly basis, consumer prices climbed 1.1 percent in July versus a flat change in the prior month.

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