Denmark consumer prices remain flat in August

13 September 2016, 01:58
Eko Rediantoro

Denmark statistics office data released on Monday showed that Denmarks EU-harmonised consumer price index (HICP) was unchanged in August after rising 0.1 percent in July. Expectations were for a 0.4 percent rise. Month-on-month, the HICP slid 0.4 percent.

The consumer price index rose 0.2 percent year-over-year in August, slightly slower than Julys 0.3 percent stable rate of climb. The underlying inflation rate that excludes energy and non-processed food, eased to 0.6 percent in August from 0.9 percent in July.

"We expect the lower inflation in August to be a temporary setback as diminishing effects from oil prices will start to push inflation higher in the coming months," said Nordea economist Jan Storup Nielsen.

Denmark may be headed for its lowest annual inflation rate since 1953. On Wednesday, the Nationalbank is due to publish its Q3 Monetary Review, presenting the central banks take on where the economy is at and where it is headed.

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