Lån og Spar expects December ECB rate hike as energy prices fuel inflation
TLT•Lån & Spar expects the ECB to raise rates in December as energy prices fuel inflation. Danish inflation was 2.2% in October, while core inflation eased to 1.7%.
1. Inflation and energy prices
Lån & Spar’s analysis showed Danish inflation at 2.2% in October and core inflation at 1.7%. Fuel prices rose 33% year over year, and the Middle East crisis added about 0.7 percentage points to inflation.
2. Other price changes
Rent and fuel contributed just over 1.2 percentage points to annual inflation. Food prices fell 2.5% year over year but remained 30% above early 2021 levels.
