Denmark Inflation Highest Since December 1989

(RTTNews) - Denmark's consumer price inflation climbed to its highest level since December 1989, preliminary data from Statistics Denmark showed on Thursday.

The consumer price index rose 4.8 percent year-on-year in February, following a 4.3 percent increase in January.

Excluding energy and fresh food, core inflation increased to 2.7 percent in February from 1.9 percent in the previous month, driven by higher prices for food and furniture. This was the highest since November 2008.

Prices for housing use, electricity and heating had the largest upward impact on the annual inflation as they rose by 6.7 percent. Transport costs gained 7.8 percent.

Rents rose 1.7 percent annually, marking the biggest increase since 2016.

On a monthly basis, consumer prices rose 1.0 percent in February, led by a 1.0 percent increase in rents.