Today in Denmark: A roundup of the latest news on Tuesday
Analysts predict sharp drop in Danish grocery prices, SAS flights to take time to get back to normal plus more news from Denmark on Tuesday
Inflation to cost Danish households 'up to 35,000 kroner a year'
Consumer prices rose 8.2 percent between June this year and the same month last year, figures from national stats agency Statistics Denmark show.
The inflation figures for June represent the biggest increase in the consumer price index (CPI) since 1983 and means a household with two adults and two children will spend 35,000 kroner more on household goods annually compared to a year ago, the Danish Broadcasting Corporation (DR) reports.
"If you want to buy exactly the same as you did a year ago, you will have to be up to 35,000 kroner extra out of pocket every year," Brian Friis Helmer, an economist at bank Arbejdernes Landsbank, told DR.
SAS services to take time return to normal once strike ends
It would take two to three days for airline SAS to be fully operational once the ongoing pilots' strike has ended, Danish newswire Ritzau reports.
"The pilots and the planes are at their bases right now. They have to go to the destinations before it is normal again. But everything is ready for them to start as soon as the strike is over," Espen Andersen, aviation analyst and associate professor at BI Norwegian Business school, told Ritzau.
The analyst added that it is in the best interests of the pilots and airline to return to business as usual as soon as possible.
Analysts predict sharp drop in Danish grocery prices
Prices in Danish supermarkets have fallen in recent weeks, with analysts predicting further falls to come, newspaper Politiken has reported.
According to the newspaper, market analysts expect prices to fall by between 10 and 50 percent, as retailers overcome an initial panic at rising wholesale prices and start to compete for customers.
"When the price of raw materials rises, it always happens like a rocket, because you get a market panic," Tom Bundgaard, a market analyst at Mintec, told the newspaper.
"Then the price curve ends up looking like an inverted V, which is to say it rises steeply but then plummets after it has reached its peak and that's what's happening now."
But while materials like bread and cooking oil, looked likely to fall steeply in price, Bundgaard said two commodities would remain expensive: oil and gas.
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Inflation to cost Danish households 'up to 35,000 kroner a year'
Consumer prices rose 8.2 percent between June this year and the same month last year, figures from national stats agency Statistics Denmark show.
The inflation figures for June represent the biggest increase in the consumer price index (CPI) since 1983 and means a household with two adults and two children will spend 35,000 kroner more on household goods annually compared to a year ago, the Danish Broadcasting Corporation (DR) reports.
"If you want to buy exactly the same as you did a year ago, you will have to be up to 35,000 kroner extra out of pocket every year," Brian Friis Helmer, an economist at bank Arbejdernes Landsbank, told DR.
SAS services to take time return to normal once strike ends
It would take two to three days for airline SAS to be fully operational once the ongoing pilots' strike has ended, Danish newswire Ritzau reports.
"The pilots and the planes are at their bases right now. They have to go to the destinations before it is normal again. But everything is ready for them to start as soon as the strike is over," Espen Andersen, aviation analyst and associate professor at BI Norwegian Business school, told Ritzau.
The analyst added that it is in the best interests of the pilots and airline to return to business as usual as soon as possible.
Prices in Danish supermarkets have fallen in recent weeks, with analysts predicting further falls to come, newspaper Politiken has reported.
According to the newspaper, market analysts expect prices to fall by between 10 and 50 percent, as retailers overcome an initial panic at rising wholesale prices and start to compete for customers.
"When the price of raw materials rises, it always happens like a rocket, because you get a market panic," Tom Bundgaard, a market analyst at Mintec, told the newspaper.
"Then the price curve ends up looking like an inverted V, which is to say it rises steeply but then plummets after it has reached its peak and that's what's happening now."
But while materials like bread and cooking oil, looked likely to fall steeply in price, Bundgaard said two commodities would remain expensive: oil and gas.
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