Inflation Denmark 2023
Average inflation: 3.4%
Current Inflation
Inflation is high at 3.4%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 7.7%. The lowest inflation was in October at 0.1%.
- Highest month
- January: 7.7%
- Lowest month
- October: 0.1%
- Difference
- 7.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Restaurants and hotels with an average of 8.8%. The lowest price increase was in Housing, water, electricity, gas and other fuels with an average of -0.5%.
- Highest increase
- Restaurants and hotels: 8.8%
- Lowest increase
- Housing, water, electricity, gas and other fuels: -0.5%
Historical Context
Current inflation is 0.6% higher than the 5-year average of 2.8%.
- 5-year average
- 2.8%
- 10-year average
- 1.7%
- All-time high (2022)
- 7.7%
- All-time low (2016)
- 0.2%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -4.3 percentage point.
- Change vs. previous year
- -4.3 percentage points
- Largest monthly swing
- October: -10.0 percentage points
ECB Target
Inflation is 1.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 7.7% | +3.4 |
| February | 7.6% | +2.8 |
| March | 6.7% | +1.3 |
| April | 5.3% | -1.4 |
| May | 2.9% | -4.5 |
| June | 2.5% | -5.7 |
| July | 3.1% | -5.6 |
| August | 2.4% | -6.5 |
| September | 0.9% | -9.1 |
| October | 0.1% | -10.0 |
| November | 0.6% | -8.3 |
| December | 0.7% | -8.0 |
| Average | 3.4% |
Data source
Data from OECD. Last updated: 13/01/2026.