Denmark: Inflation increases but remains below target in October
Latest reading: Inflation rose to 1.6% in October from September’s 1.3%, remaining below the 2.0% target of the ECB, whose monetary policy decisions Denmark follows due to the krone’s peg to the euro. Looking at the details of the release, the acceleration was broad-based, with faster price pressures noted for food, housing and textiles. Moreover, transportation prices declined at a softer pace.
Accordingly, the trend pointed up slightly, with annual average inflation coming in at 1.2% in October (September: 1.1%). Meanwhile, core inflation eased to 1.5% in October from the previous month’s 1.6%.
Finally, consumer prices rose 0.59% in October over the previous month, swinging from September’s 0.35% fall.