Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Inflation in the Nordic countries - Statistics & Facts
In the aftermath of the COVID-19 pandemic, consumer prices started to increase globally from the fall of 2021. Then, Russia's invasion of Ukraine in February 2022 spurred the economic instability in the world even further. All around the world, inflation rates increased through 2022 and continued into 2023, meaning an increase in prices, so also in the Nordic countries. For instance, the annual inflation rate in Denmark reached 10 percent in October 2022, meaning that prices in the country had increased by 10 percent compared to the same month the previous year, but the inflation rate had dropped to around three percent by mid-2023.
