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Inflation in Denmark drops to less than 1 percent

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The Local ([email protected])
Inflation in Denmark drops to less than 1 percent
Inflation is under 1 percent for the first time since early 2021. Photo: Kristian Djurhuus/Ritzau Scanpix

Inflation in Denmark fell to 0.9 percent in Denmark, the lowest level for almost three years.

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New figures released on Tuesday by Statistics Denmark rate the country’s inflation at its lowest level since February 2021, predating the energy crisis and price rises that were a major factor throughout 2022.

Inflation has almost consistently fallen since October last year, when in peaked at 10.1 percent.

The announcement comes after Statistics Denmark said last month that Denmark had the lowest inflation in the EU.

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The latest figure is positive news, private economist with Arbejdernes Landsbank, Brian Friis Helmer, said in a comment to broadcaster TV2.

“It’s quite simply good news that inflation and core inflation are falling back from the extremely high levels we’ve seen over the last year,” he said.

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Core inflation is a measure that does not take into account energy and unprocessed food prices and demonstrates the presence of inflation in other parts of the economy.

It fell to 3.7 percent in September, down from 4.2 percent the previous month and the lowest since April 2022.

Although some stores including supermarkets have begun to reduce prices, falling inflation does not automatically translate to immediate consumer savings, Helmer warned.

“But Danes can possibly look forward to some of their costs getting a little cheaper again,” he said.

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