Copenhagen (Denmark), December 11: Danish consumer price index increased by 3.4 percent year-on-year in November 2021, the highest in the past 13 years, the country's central statistics office Danmarks Statistik said on Friday.
The previous high was set in October 2008, when the annual increase was 3.7 percent.
According to Danmarks Statistik, the increase is due to "price changes in housing use," specifically "electricity and heating."
"The annual increase of 32.2 percent in electricity is the highest since June 1981," Danmarks Statistik said in a press release.
The press release acknowledged the "knock-on effect" of price increases on other sectors of the economy, most notably goods, which increased by 4.7 percent year on year "largely as a result of price increases in fuel, electricity, and gas."
"November saw the largest annual increase in transportation prices. The 9.5 percent increase is primarily due to higher gasoline prices."
According to economists, the gas price was the largest contributor to inflation in November 2021.
"It affects both consumers and businesses, as freight rates are expensive in many locations," Danish news agency Ritzau quote Soren Kristensen, Sydbank's chief economist, as saying.
"We will almost certainly see that these price increases spread to a wide variety of goods in the coming months. As a result, the inflation will remain elevated for the foreseeable future," he added.
Source: Xinhua