Denmark Inflation Highest Since November 1982; Trade Surplus Rises

(RTTNews) - Denmark's consumer price inflation accelerated further in September to the strongest level in nearly forty years amid higher prices for food, electricity, gas, and fuel prices, while the foreign trade surplus increased in August, data from Statistics Denmark showed on Monday.

Consumer price inflation accelerated to 10.0 percent in September from 8.9 percent in August.

The latest inflation was the highest since November 1982, when it had risen 10.1 percent, the statistical office said.

Excluding energy and fresh food, core inflation eased slightly to 5.9 percent in September from 6.0 percent in the previous month.

Prices for food and non-alcoholic beverages were 15.9 percent higher in September compared to last year, and transport costs also registered a double-digit growth of 11.8 percent.

On a monthly basis, consumer prices moved up 1.3 percent from August, when they showed no variations.

The EU measure of harmonized index of consumer prices grew 11.1 percent annually in September, following a 9.9 percent rise in the prior month.

On a monthly basis, the HICP increased 1.5 percent.

Separate data from the statistical office showed that the foreign trade balance showed a surplus of DKK 35.0 billion in August versus DKK 32.5 billion in July.

Data also showed that the current account surplus rose to DKK 41.7 billion in August from DKK 39.1 billion in the previous month.