Denmark: energy inflation rate by commodity 2024

The inflation rates of energy commodity prices in Denmark have increased significantly since 2021. Gas saw an inflation rate of 179.3 percent in September 2022, the highest annual change in the last three years. This was followed by a drastic decrease in the inflation rate to reach -59.1 percent in September 2023. These developments occurred following Russia's invasion of Ukraine, which has been the cause of uncertainty over Europe's security of gas supply, as well as intense energy price volatility.

Harmonized index of consumer prices (HICP) energy inflation rate in Denmark from January 2019 to May 2024, by commodity

Characteristic	Energy	Gas	Liquid fuels	Electricity
May '24	9.2%	-10%	10.6%	26.3%
Apr '24	-7.2%	-12.9%	8.5%	-25.5%
Mar '24	-6.2%	-19.9%	5%	-18.6%
Feb '24	-7.8%	-26.3%	5.7%	-20.1%
Jan '24	-11.6%	-43.3%	-2.6%	-21.1%
Dec '23	-17.2%	-30.6%	-3%	-37.1%
Nov '23	-21.6%	-29.9%	-8.4%	-43.2%
Oct '23	-27.6%	-55.9%	-10.7%	-48%
Sep '23	-24%	-59.1%	-3.7%	-46.6%
Aug '23	-15.5%	-50.4%	-3.9%	-32.9%
Jul '23	-17.5%	-33.8%	-16.8%	-30.6%
Jun '23	-22.3%	-28.6%	-21.3%	-44.8%
May '23	-19.1%	-28.5%	-15.4%	-43.7%
Apr '23	-4.1%	-35.9%	-7.1%	-8.7%
Mar '23	7%	-5.1%	-4.9%	14.1%
Feb '23	14%	6.3%	12.6%	16%
Jan '23	16.3%	27.2%	23.6%	9.7%
Dec'22	30.1%	37.8%	25.6%	54.4%
Nov'22	36.6%	26.9%	32.8%	71.9%
Oct'22	53.2%	131.4%	42.9%	84.4%
Sep'22	56.8%	179.3%	41.4%	95%
Aug '22	40.8%	142.6%	39.7%	54%
Jul '22	43.3%	98.4%	49.3%	58.6%
Jun '22	46.8%	89.8%	60.3%	60.5%
May '22	44.3%	119.9%	48.2%	60.5%
Apr '22	45.8%	153.4%	43.1%	69.4%
Mar '22	34.1%	82.6%	42.5%	44.6%
Feb '22	30.6%	92.3%	25.9%	44.3%
Jan '22	36.6%	127.7%	25%	63.2%
Dec '21	23.5%	86.4%	23.5%	32.1%
Nov '21	28%	98.2%	33.8%	32.2%
Oct '21	22.6%	71.2%	34.4%	26.7%
Sep '21	14.5%	52.8%	27.7%	15.2%
Aug '21	13%	45.8%	24.7%	14.2%
Jul '21	12.1%	36.3%	25.6%	12.8%
Jun '21	9.4%	30.9%	26.8%	5.7%
May '21	9.9%	19.8%	30.4%	4.8%
Apr '21	8.9%	13.7%	21.6%	3.8%
Mar '21	4.5%	12.4%	14%	1%
Feb '21	-0.4%	8%	3%	1.4%
Jan '21	-5.2%	0.8%	-6.6%	-4.6%
Dec '20	-5.6%	-2%	-9.2%	-7.1%
Nov '20	-6.8%	1.3%	-12.5%	-8.5%
Oct '20	-4.8%	-0.3%	-13.3%	-3.6%
Sep '20	-4.1%	-3.7%	-14.9%	-0.4%
Aug '20	-4%	-5.8%	-11.4%	-1.4%
Jul '20	-4.8%	-6.3%	-12.6%	-1.4%
Jun '20	-7.1%	-12.7%	-14.6%	-4.1%
May '20	-10.4%	-10.5%	-21.2%	-4.6%
Apr '20	-11%	-9.1%	-16.2%	-8.4%
Mar '20	-5.5%	-9.5%	-9.6%	-4%
Feb '20	-2.4%	-12.2%	-0.5%	-6.6%
Jan '20	1.3%	-4.5%	7.6%	-3.9%
Dec '19	0.9%	-10.4%	6.2%	-5.5%
Nov '19	-1.7%	-15.5%	-1.6%	-5.9%
Oct '19	-3.1%	-18.7%	-2.4%	-6.7%
Sep '19	-3.2%	-16.7%	1.8%	-10.6%
Aug '19	-2.9%	-15.5%	0.5%	-8.6%
Jul '19	-1.7%	-15%	1.8%	-7.4%
Jun '19	-1.9%	-7.8%	0.7%	-5.3%
May '19	0.3%	-6.6%	4%	-3.9%
Apr '19	2.9%	-7.2%	9.7%	0%
Mar '19	2.5%	-0.6%	13%	-1.8%
Feb '19	3.3%	6.2%	10.9%	1.8%
Jan '19	1%	-3.7%	5.9%	1.3%

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Release date

June 2024

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Region

Denmark

Survey time period

January 2019 to May 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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Energy price inflation rate in Denmark 2019-2024, by commodity

Harmonized index of consumer prices (HICP) energy inflation rate in Denmark from January 2019 to May 2024, by commodity

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Harmonized index of consumer prices (HICP) energy inflation rate in Denmark from January 2019 to May 2024, by commodity

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