Denmark Inflation Lowest Since May 2020

(RTTNews) - Denmark's consumer price inflation reached its lowest level since mid-2020 in October, mainly to lower prices for fuel and electricity as well as for home furnishings, preliminary figures from Statistics Denmark showed Friday.

The consumer price index, or CPI, edged up 0.1 percent year-on-year following a 0.9 percent increase in September.

The rate of inflation was the lowest since May 2020, when it was flat, the statistical office said.

The lower inflation in October compared to last month is mainly due to price changes on petrol, electricity and furniture and home furnishings, Statistics Denmark added.

Prices of goods fell 4.4 percent year-on-year, while those of services grew 4.9 percent, due to price increases in house rent and holiday home rentals.

Core inflation, which excludes prices of energy and fresh food, slowed to 3.3 percent from 3.7 percent in the previous month.

Price changes on furniture and home furnishings, as well as bank charges, pulled core inflation down compared to September.