Inflation Denmark 2024
Average inflation: 1.4%
Current Inflation
Inflation is low at 1.4%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in May at 2.2%. The lowest inflation was in February at 0.8%.
- Highest month
- May: 2.2%
- Lowest month
- February: 0.8%
- Difference
- 1.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 5.1%. The lowest price increase was in Furnishings, household equipment and maintenance with an average of -3.7%.
- Highest increase
- Education: 5.1%
- Lowest increase
- Furnishings, household equipment and maintenance: -3.7%
Historical Context
Current inflation is 1.6% lower than the 5-year average of 3.0%.
- 5-year average
- 3%
- 10-year average
- 1.8%
- All-time high (2022)
- 7.7%
- All-time low (2016)
- 0.2%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +2.0 percentage point.
- Change vs. previous year
- -2.0 percentage points
- Largest monthly swing
- February: -6.8 percentage points
ECB Target
Inflation is 0.6% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.2% | -6.5 |
| February | 0.8% | -6.8 |
| March | 0.9% | -5.8 |
| April | 0.8% | -4.5 |
| May | 2.2% | -0.7 |
| June | 1.8% | -0.7 |
| July | 1.1% | -2.0 |
| August | 1.4% | -1.0 |
| September | 1.3% | +0.4 |
| October | 1.6% | +1.5 |
| November | 1.6% | +1.0 |
| December | 1.9% | +1.2 |
| Average | 1.4% |
Data source
Data from OECD. Last updated: 11/01/2026.