Denmark experienced a deceleration in consumer price inflation for the second consecutive month in July, primarily due to a reduction in the rate of increase for electricity costs, according to data released by Statistics Denmark on Monday.
The consumer price index (CPI) saw a year-over-year rise of 1.1% in July, down from the 1.8% increase recorded in May. This marks the weakest inflation rate observed over the past three months.
The annual growth in prices for electricity and heating for residential use decreased to 2.2%, compared to 4.1% in June. Additionally, prices for clothing and footwear were 1.4% lower.
Transportation charges maintained a stable growth rate of 1.2%, whereas the prices for food and non-alcoholic beverages rose slightly faster at 0.8%, up from 0.6% in June.
Core inflation, which strips out the volatile categories of energy and unprocessed food, eased to 1.0% from 1.3%.
On a month-to-month basis, consumer prices increased by 1.1% in July, contrasting with a flat change observed in the previous month.
