In the latest retail barometer survey conducted by national data agency Statistics Denmark, only 2 percent of food and drink retail businesses said they expected to reduce their prices during the next three months.
The figure is one of a number of findings in the survey, which is sent monthly by Statistics Denmark to the country’s businesses.
“There’s no outlook for cheaper food products for Danes for the time being,” private economist with Arbejdernes Landsbank, Brian Friis Helmer, told the Ritzau newswire.
Between June 2023 and March this year, some 48 percent of businesses said they expected to reduce their prices, meaning that companies are now displaying a notable change in expectations.
Prices did drop by a small amount through the last autumn and winter, according to Helmer, but that trend has now reversed.
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In August, the price of food and non-alcoholic drinks was 1.8 percent higher than in the same month last year.
However, monthly price indexes show a slight drop of 0.4 percent in August. That came after five consecutive months of rising prices.
Although almost no businesses expect prices to fall, there is also little expectation that they will increase. The proportion of companies who said they expect prices to go up within the next three months is 9 percent.
That means 89 percent of businesses expect prices to remain at the same level over the coming quarter.
Consumers in Denmark who are thinking of buying a car in the next three months may find prices falling in their favour, according to the Statistics Denmark barometer.
One in five car dealerships said in the survey that they expect to reduce their prices, and just 4 percent said they predict prices to go up.
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