2023.07.1015:44:00UTC+00Denmark Inflation Lowest Since 2021

Denmark's consumer price inflation eased for the eighth month in a row to the lowest level in nearly two years, largely due to smaller increases in fuel and food prices, while services inflation climbed, data from Statistics Denmark showed on Tuesday.

The consumer price index rose 2.5 percent year-over-year in June after a 2.9 percent increase in May.

This was the weakest inflation rate since September 2021, when prices rose 2.2 percent.

Core inflation, which excludes prices of energy and fresh food, eased to 4.9 percent from 5.0 percent in May, mainly due to the fact that furniture and new cars contributed less compared to the previous month, the statistical office said.

Prices for food and non-alcoholic beverages grew at a slower rate of 8.8 percent annually in June. Prices in restaurants and hotel sector increased at a stable pace of 7.8 percent.

Higher prices in restaurants and cafes contributed to the acceleration in services inflation to 4.7 percent from 4.4 percent.

On a monthly basis, consumer prices rose 0.3 percent in June, underpinned by higher prices for holiday home rentals, food and package tours.