How do price increases in Denmark compare with other EU countries?
Denmark’s inflation in February was the highest the country has seen for a number of years, but compares favourably with price increases seen in most other EU countries.
Inflation in Denmark last month was 5.3 percent, according to Statistics Denmark.
However, that represents less drastic price increases compared with other EU countries, according to the agency.
Data released by Statistics Denmark shows inflation of consumer prices for EU countries. The figures are calculated on a comparable basis between countries.
Of the 27 EU countries only Malta, France, Finland, Sweden and Portugal experienced lower inflation than Denmark with regard to consumer prices in February.
In Malta and France, inflation was 4.2 percent in February, while for the other countries it was 4.4 percent.
Particularly high inflation was recorded in the Baltic countries. Lithuania had the highest inflation in the EU at 14 percent, while neighbouring Estonia and Latvia had 11.6 and 8.8 percent inflation respectively.
“Inflation is at a towering level. But price increases in Denmark are among the lowest in the EU,” senior economist Allan Sørensen of the Confederation of Danish Industry (DI) told news wire Ritzau.
“There is, as such, a global problem with high price increases. It is reducing the purchasing power of consumers all over the world,” he said.
The average inflation for the EU27 countries in February was 6.2 percent. In January it was 5.6 percent.
Energy is the main factor driving up prices across the EU. This is also the case in Denmark, which has seen energy increase in cost more than any other consumer good or service over the last year.
Prices will continue to go up in the immediate future before stability returns, according to Sørensen.
“Inflation will increase further during the spring as the latest increases in the cost of raw materials pass through the value chain,” he said.
“Many raw material prices have come down again a little in the last week and that can hopefully soon cause inflation to decline again significantly,” he said.
READ ALSO: Danish prices in ‘biggest jump since 2008’
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Inflation in Denmark last month was 5.3 percent, according to Statistics Denmark.
However, that represents less drastic price increases compared with other EU countries, according to the agency.
Data released by Statistics Denmark shows inflation of consumer prices for EU countries. The figures are calculated on a comparable basis between countries.
Of the 27 EU countries only Malta, France, Finland, Sweden and Portugal experienced lower inflation than Denmark with regard to consumer prices in February.
In Malta and France, inflation was 4.2 percent in February, while for the other countries it was 4.4 percent.
Particularly high inflation was recorded in the Baltic countries. Lithuania had the highest inflation in the EU at 14 percent, while neighbouring Estonia and Latvia had 11.6 and 8.8 percent inflation respectively.
“Inflation is at a towering level. But price increases in Denmark are among the lowest in the EU,” senior economist Allan Sørensen of the Confederation of Danish Industry (DI) told news wire Ritzau.
“There is, as such, a global problem with high price increases. It is reducing the purchasing power of consumers all over the world,” he said.
The average inflation for the EU27 countries in February was 6.2 percent. In January it was 5.6 percent.
Energy is the main factor driving up prices across the EU. This is also the case in Denmark, which has seen energy increase in cost more than any other consumer good or service over the last year.
Prices will continue to go up in the immediate future before stability returns, according to Sørensen.
“Inflation will increase further during the spring as the latest increases in the cost of raw materials pass through the value chain,” he said.
“Many raw material prices have come down again a little in the last week and that can hopefully soon cause inflation to decline again significantly,” he said.
READ ALSO: Danish prices in ‘biggest jump since 2008’
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