News World

Denmark’s inflation hits highest level since 1984

Denmark says more than half of Nord Stream gas has escaped

Danish inflation hit a near four-decade high in April, as energy and food prices soared, official figures showed Tuesday.

Denmark’s consumer price index (CPI), rose 6.7 percent in April, compared to a year earlier, the highest rate since June 1984, according to Statistics Denmark.

Prices of goods have meanwhile risen by 10.3 percent over the past year, a rate last matched in November 1982, the official statistics keeper said.

“Within goods, price increases for electricity, food, fuel and gas are very much evident in April 2022,” the agency said in a statement.

Excluding energy and unprocessed foodstuffs, Danish consumer prices rose 3.6 percent, which is still up from 3.2 percent in March.

Fuel and food prices have soared worldwide following Russia’s invasion of Ukraine as the conflict and Western sanctions on Moscow have disrupted supplies.

While central banks in the United States, Britain and other countries have hiked interest rates in bids to tame inflation, Denmark’s Nationalbanken cut its key rate in September to protect the Danish krone’s exchange rate, which is pegged to the euro.

The European Central Bank has kept its own rates unchanged so far despite soaring inflation in the eurozone.

Tags

About the author

AFP

Agence France-Presse (AFP) is a French state-owned international news agency based in Paris. It is the world's oldest news agency, having been founded in 1835 as Havas.




Daily Newsletter