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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.â€