The inflation rate of consumer goods in Denmark saw a significant increase in January, hitting a five-month high, as reported by Statistics Denmark. The consumer price index escalated by 1.2% year-over-year in January, a notable rise from the 0.7% seen in December. This marks the highest inflation since August 2023, a period during which there had been a 2.4% increase in prices.
The cost of services in January was 4.0% higher compared to the previous year. This was mainly attributed to increased costs for rent and expenses related to dining out at restaurants and cafes. Food and non-alcoholic beverages saw a price increment of 2.2%, whereas the prices of goods declined by 1.6% due to a fall in electricity and gas prices.
With respect to core inflation, which leaves out energy and unprocessed food prices, there was a slight decrease from 2.6% to 2.5%. Meanwhile, consumer prices saw a 0.9% rebound in January, contrasting with the 0.5% decrease registered in the preceding month of December.
