Inflation in Denmark surged in May, reaching its highest level in nine months due to increased electricity costs, according to Statistics Denmark's report released on Monday.
The consumer price index showed a 2.2 percent year-over-year rise in May, a notable jump from the 0.8 percent increase recorded in April. This marks the highest inflation rate since August 2023, when the index had risen by 2.4 percent.
Utility costs, particularly electricity, saw a substantial annual increase of 3.8 percent in May, reversing a 0.4 percent decline from the previous month. Additionally, the annual growth rate for transportation costs accelerated to 1.8 percent from 0.8 percent. In contrast, food and non-alcoholic beverage prices rose at a slower pace of 0.7 percent.
Core inflation, which excludes the volatile components of energy and unprocessed food, edged up to 1.6 percent from 1.5 percent.
On a month-over-month basis, consumer prices remained steady in May, following a modest 0.1 percent rise in April.
