Denmark Inflation Eases To 1.7%

(RTTNews) - Denmark's consumer price inflation moderated in July to the lowest level in three months, data from Statistics Denmark showed on Monday.

The consumer price index rose 1.7 percent year-over-year in July, down from a 1.9 percent increase in June. On a monthly basis, consumer prices rose 1.3 percent, compared to a 0.2 percent gain in the previous month.

Restaurants and hotels drove July inflation, with costs surging 8.1 percent. Transportation inflation accelerated to 5.5 percent from 4.5 percent in the prior month. These gains were partially offset by declining prices in other sectors.

Clothing and footwear price growth eased to 0.9 percent from 2.3 percent, while utility costs remained flat. Food and non-alcoholic beverages entered deeper deflation, declining 1.6 percent compared to a 0.9 percent drop previously.

Core inflation, which excludes energy and unprocessed food, held steady at 2.3 percent.