Financial News: Denmark Producer Prices Rise Most In 18 Months

Denmark Producer Prices Rise Most In 18 Months

09/16/2024 - 08:03:00 (RTTNews)

(RTTNews) - Denmark's producer prices increased further and at the fastest pace in eighteen months in August, figures from Statistics Denmark showed on Monday.

The producer price index rose 5.8 percent year-over-year in August, much faster than the 0.3 percent rise in July.

Further, this was the quickest increase since February 2023, when prices had risen 8.3 percent.

The upward trend was primarily due to a 7.2 percent price rise in the industrial sector, and there was an increase of 1.5 percent in the in the raw material extraction segment. Meanwhile, prices for the energy supply declined 4.9 percent.

Domestic market prices were 0.8 percent lower compared to last year, while foreign market prices registered an increase of 10.5 percent.

On a monthly basis, overall producer prices jumped 5.7 percent in August versus a 0.3 percent gain a month ago.

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