The Consumer price inflation in Denmark attained a value of 1.44 % in 2024
The indicator recorded a historical change (bps difference) of 41 bps between 2021 to 2024, and is expected to grow by...
GlobalData projects the figure to change by 8 bps between 2025 and 2029, reaching...
Inflation
Inflation is an upsurge in the level of prices of the goods and services in an economy, which leads to a decline in the purchasing power of the currency’s value. It is calculated as the rate of change in prices in a specific period. The consumer price index (CPI) is one of the most common indicators for measuring inflation in an economy.
Global Inflation
Global inflation is a measure of the average annual rate of growth increase in national prices across all countries. It can be calculated using various methods including simple average, weighted average, and median price change. Global Data forecasts that the world economy will grow at a slower pace of 3.5% in 2022 following a 5.9% growth in 2021. On the other hand, the global inflation rate is projected to rise to 6.5% in 2022 from 3.5% in the previous year due to supply chain disruption amid the Ukraine-Russia war.
Consumer Price Inflation in Denmark
Between 2018-2021, the consumer price inflation in Denmark was highest in the year 2021, reaching 1.8%, an increase of 2.6% over the previous year 2020. Between 2018 to 2021, Denmark’s consumer Inflation increased by 1.3%.
Inflation in Denmark has been low for the past few years. In 2019, inflation fell to 0.76%, from 0.81% in 2018. The rate of inflation decreased to 0.33% in 2020, mainly driven by a decline in food prices and rents. According to Global Data analysis, inflationary pressure is expected to average to 1.32% over 2022–2023.
Factors that Impact Inflation Rate
Some of the major factors affecting consumer prices are government policies, money supply, consumer spending, employment levels, high disposable income, and wage levels. Interest rates can also have a significant impact on spending on consumer goods.
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer