Denmark Inflation Highest Since October 2008

(RTTNews) - Denmark's consumer price inflation increased in November to its highest in over a decade, data from Statistics Denmark showed on Friday.

The consumer price index rose 3.4 percent year-on-year in November, following a 3.0 percent increase in October. This was the biggest increase since October 2008, when inflation was 3.7 percent.

Core inflation, which excludes prices of energy and fresh food, rose to 1.6 percent in November from 1.4 percent in October. That was the highest core inflation since September 2017.

Prices for transport rose the most, by 9.5 percent, in November and those of housing, electricity and heat gained 5.3 percent.

Electricity prices surged 32.2 percent, which was the biggest increase since June 1981.

Prices for restaurant and hotels increased by 3.7 percent. Prices for food and non-alcoholic beverages, and education rose by 2.1 percent, each.

The EU measure of harmonized index of consumer prices, or HICP rose 3.8 percent in November, following a 3.2 percent growth in the preceding month.

On a monthly basis, consumer prices rose 0.3 percent in November, mainly driven by higher gas and fuel costs.