Fuel prices are up and base effects are also pulling upwards.
February is where we get the annual rent index update, which accounts for 20.4% of total CPI, so the potential for surprise is large.
Danske Bank notes in a report on Tuesday:
- We estimate that deflation only lasted one month in Denmark and that we are back to positive year-on-year inflation in February.
- We expect Danish inflation to remain above euro-area inflation for the rest of 2015.