Denmark down in first deflation since 50s
Figures just released on Denmark’s consumer prices show that the country has officially joined the deflation club.
Denmark’s national statistics office announced on Tuesday that the prices of goods and services dipped 0.1 percent in January. This came after the prices rose 0.3 percent in December 2014.
This is the first time since 1954 that the prices fell in Denmark – a phenomenon that economists blame on falling energy prices.
Danish consumers have reined in spending since housing prices began a protracted slide in 2007, leaving the country with one of the world's highest levels of household debt, AFP reported.
Still, analysts say this is not a serious source of concern. They say deflation will prevail over a short period and that it could eventually help domestic spending and boost recovery.
AA/AA
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