Danish inflation continues to accelerate

Bloomberg

Denmark’s producers of food and beverages expect to raise prices further in the coming quarter, signalling that inflation in the Nordic country is yet to peak.
In a survey by Statistics Denmark, 81% of the food makers said they expect prices to increase in the coming three months, up from 76% a month ago. In the overall retail industry, 57% expect higher prices, up from 55%.
The worsening sentiment in consumer-facing businesses is adding more fuel to the inflation fire that’s increasing the cost of living across the globe. In Denmark, the inflation rate jumped to 8.2% in June, the highest in four decades, and consumer confidence is at an all-time low.
“This sends a clear signal to Danes, that there are still more broad price hikes in sight,” Lisette Rosenbeck, an economist at Arbejdernes Landsbank, said in a note to clients. “We are currently experiencing the most powerful price hikes in almost 40 years and it is clearly not over yet.”