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Translated by: Himalaya Oxford Visionary – MaiTian
According foreign reported on May 10th, that Denmark’s inflation hit its highest in nearly 40 years amid the spike in energy and food prices, according to official figures shown Tuesday.
According to Statistics Denmark, Denmark’s consumer price index (CPI) rose 6.7% in April, compared to a year earlier, the highest rate since June 1984. Meanwhile, commodity prices rose 10.3% over the past year. The Office for Official Statistics said that the last increase happened in November 1982. “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 food, Danish consumer prices rose 3.6%, higher than 3.2% in March.
After Russia’s invasion of Ukraine, fuel and food prices soared worldwide as the conflict and Western sanctions against Moscow disrupted supplies.
While central banks in the US, UK, and other countries have raised interest rates to try to quell inflation, Denmark’s National Bank cut its key rate in September to protect the exchange rate of its euro-pegged Danish krone.
The European Central Bank has remained its rate unchanged despite soaring inflation in the eurozone.
Edited by: Latin
Proofread by: Linda Progress
Posted by: Peter Chen
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