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🇩🇰Denmark inflation rate

released 16 Oct 2026 · data through September 2026 · next release expected 31 Oct 2026

Denmark sits outside the euro area, with its own currency and central bank. Harmonised inflation (HICP) — the EU-harmonised measure that makes prices comparable across Europe — stands at 2.1% as of September 2026. That is 0.1 percentage points above the ECB's 2% target, and 1.7 points below the eurozone average of 3.8%. It sets no inflation target of its own: the currency is pegged to the euro under ERM II, so the ECB's 2% objective is the reference point.

The breakdown shows core (excluding energy and food) at 2.3%, energy at 8.7%, food at −1.4% and services at 3.4%. The strongest pressure is in energy (8.7%), while food is the softest (−1.4%).

Month on month the headline rose from 2.0% to 2.1%, extending the climb.

Denmark ranks number 27 of 30 European economies by annual inflation, from highest to lowest, between Czechia and Hungary.

Harmonised inflation (HICP) · annual rate
2.1%
vs 2% target
+0.1 pp

Harmonised inflation (HICP) is 2.1% as of September 2026 — that is 0.1 percentage points above the ECB's 2% target.

core (excluding energy and food)
2.3%
▼ 0.4 pp vs prev
energy
8.7%
▲ 6.3 pp vs prev
food
−1.4%
▼ 0.4 pp vs prev
services
3.4%
▼ 0.4 pp vs prev
Denmark — annual HICP inflation rate, last 10 years
Source: Eurostat (HICP) · data through September 2026 · modifications: none

Inflation by year

Inflation in Denmark averaged 1.8% in 2025, higher than in 2024 (1.3%).

Inflation by year
YearAnnual averageDecember, year on year
2026 so far–2.1% (September)
20251.8%1.9%
20241.3%1.8%
20233.4%0.4%
20228.6%9.6%
20211.9%3.4%
20200.3%0.4%
20190.7%0.8%
20180.7%0.7%
20171.1%0.8%
20160.0%0.3%

Annual average: the average HICP index of the year compared with the previous year's average, as Eurostat publishes it (prc_hicp_ainr) — not an average of the monthly rates. December: the year-on-year rate of that month (prc_hicp_minr). The current year shows the latest monthly year-on-year rate.

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Frequently asked questions

What is Denmark's current inflation rate?
Denmark's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 2.1% as of September 2026.
Is Denmark's inflation above or below the ECB's 2% target?
At 2.1%, it is 0.1 percentage points above the European Central Bank's 2% target.
How does Denmark's inflation compare with the rest of Europe?
Denmark ranks number 27 of 30 European economies by inflation, 1.7 points below the eurozone average of 3.8%.
Did Denmark's inflation rise or fall last month?
Month on month, the headline rate rose from 2.0% to 2.1% in September 2026.
What was inflation in Denmark in 2025?
Inflation in Denmark averaged 1.8% in 2025, higher than in 2024 (1.3%). In December 2025, the year-on-year rate was 1.9%.
What was inflation in Denmark over the last 10 years?
Between 2016 and 2025, annual average inflation in Denmark ranged from 0.0% in 2016 to 8.6% in 2022. The mean of the annual rates over those years was 2.0%.

Denmark — more indicators