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Denmark: Inflation reaches near two-year high in July
Latest reading: Inflation increased to 2.3% in July, following June’s 1.9%. July’s result marked the highest inflation rate since August 2023. Looking at the details of the release, the acceleration was largely driven by rising prices for food plus housing and utilities. On the flip side, transport costs fell at the steepest clip in 10 months in July.
Accordingly, the trend pointed up mildly, with annual average inflation coming in at 1.7% in July (June: 1.6%). Meanwhile, core inflation rose to 2.2% in July from the previous month’s 1.9%.
Lastly, consumer prices increased 1.49% in July over the previous month, accelerating from June’s 0.25% increase. July’s jump marked the highest reading since July 2023.
