While inflation in Denmark rose to 2.0% in February, the furniture and interior sector saw a notable price decline, helping to counterbalance rising costs in other areas. According to Statistics Denmark, the category of "furniture, household equipment, and household services" was among the few product groups that exerted a downward pull on inflation.
Photo: Dreamstime.
The latest figures show that furniture and household equipment in particular contributed to easing inflationary pressure, despite increases in housing, electricity, and food prices. 'Conversely, the group furniture, household equipment and household services is pulling down inflation in February, with furniture and household equipment in particular being the ones that are pulling down,' noted Statistics Denmark.
The consumer price index rose by 2.0% compared to February 2024, up from a 1.5% rise in January. Core inflation, which excludes energy and unprocessed food, increased by 1.8%, primarily driven by rent hikes. However, furniture and interior goods saw price reductions, providing relief to consumers despite broader inflationary trends.
On a month-to-month basis, overall prices increased by 1.0% from January to February. Significant contributors to this increase included rent, package holidays, and electricity, which collectively pushed the index up by 0.66 percentage points. In contrast, declining prices for ice cream, personal care products, and wine had a small counteracting effect.
Furniture's impact on inflation highlights shifting consumer spending patterns and market adjustments. The decline in furniture prices suggests a possible correction after previous supply chain disruptions and cost surges, making interior goods more accessible to consumers. The data may also indicate retailers adjusting prices to stimulate demand in a competitive market.
Table: Statistics Denmark.
Denmark's inflation remains among the lowest in the EU. The Danish EU-harmonised inflation rate stood at 2.0% in February. While figures for other EU countries are not yet available, Denmark recorded the lowest harmonised inflation in January at 1.4%, followed by Finland, Italy, and Ireland at 1.7%.
The latest inflation report from Statistics Denmark provides key insights into consumer price trends, reinforcing the role of the furniture and interior sector in mitigating inflationary pressures. As broader economic factors continue to shape price developments, consumers may benefit from ongoing affordability in home furnishings despite rising costs in other essential categories.
More information:
Statistics Denmark
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www.dst.dk