Danish consumers still spending but stores expect more price hikes
Already-high prices in Danish stores are expected to increase further, according to companies in the consumer sector.
Analysis by national agency Statistics Denmark found that up to 60 percent of stores in the consumer sector – which encompasses everyday goods – are likely to increase prices during the next three months.
The agency regularly looks at trends in the consumer sector and asks companies about recent and expected price changes.
A larger proportion of stores than usual said it had increased prices in recent months, the agency found.
A majority also said that they expect to raise prices in future, even if they have already increased prices recently.
The proportion of companies that said they had recently increased priced was 64 percent in May, more than the 56 percent registered by Statistics Denmark in April.
The proportion of stores that said it was likely to increase prices was around 60 percent in both April and May.
Denmark has seen a general increase in the prices of consumer goods in recent months, closely related to high energy costs.
But data for sales in the consumer sector in April shows that consumer activity has remained stable so far despite the higher prices.
Interest organisation the Danish Chamber of Commerce noted the apparent calm amongst consumers in Denmark.
“It looks as though Danes are spending a largely unchanged number of kroner in the consumer sector but that they are getting fewer products in their baskets as a result of the very high inflation,” the organisation’s senior economist Tore Stramer said in a written analysis.
Spending on consumer goods was almost the same between February and April, according to news wire Ritzau.
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Analysis by national agency Statistics Denmark found that up to 60 percent of stores in the consumer sector – which encompasses everyday goods – are likely to increase prices during the next three months.
The agency regularly looks at trends in the consumer sector and asks companies about recent and expected price changes.
A larger proportion of stores than usual said it had increased prices in recent months, the agency found.
A majority also said that they expect to raise prices in future, even if they have already increased prices recently.
The proportion of companies that said they had recently increased priced was 64 percent in May, more than the 56 percent registered by Statistics Denmark in April.
The proportion of stores that said it was likely to increase prices was around 60 percent in both April and May.
Denmark has seen a general increase in the prices of consumer goods in recent months, closely related to high energy costs.
But data for sales in the consumer sector in April shows that consumer activity has remained stable so far despite the higher prices.
Interest organisation the Danish Chamber of Commerce noted the apparent calm amongst consumers in Denmark.
“It looks as though Danes are spending a largely unchanged number of kroner in the consumer sector but that they are getting fewer products in their baskets as a result of the very high inflation,” the organisation’s senior economist Tore Stramer said in a written analysis.
Spending on consumer goods was almost the same between February and April, according to news wire Ritzau.
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