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Prices and Consumption, Economic Statistics
Martin Birger Larsen
+45 3917 3459

mbl@dst.dk

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Consumer Price Index

The consumer price index shows the development of prices for goods and services bought by private households in Denmark. Thus, the index also covers foreign households' consumption expenditure in Denmark, but not Danish households' consumption expenditure abroad. The index shows the monthly changes in the costs of buying a fixed basket of goods, the composition of which is made up in accordance with the households' consumption of goods and services. The consumer price indices divided by group of households show the price development for different households.

The price indices for April, May, June, July, August, September, October, November, December 2020 and January, February, March, April, May and June 2021 are more uncertain than usual, as the non-response rate has been significantly larger than normal and some businesses have been shut down due to Covid-19.

Data description

The consumer price index shows the development of prices for goods and services bought by private households in Denmark. Thus, the index also covers foreign households' consumption expenditure in Denmark, but not Danish households' consumption expenditure abroad. The index shows the monthly changes in the costs of buying a fixed basket of goods, the composition of which is made up in accordance with the households' consumption of goods and services.

The consumer price index can best be characterized as a fixed weight index of a Laspeyres-type. The prices that are included in the consumer price index are the prices paid by the consumers, i.e. including VAT and taxes and after deduction of any subsidies. The only exception to this is rent payments where the total rent, i.e. the share of rent payments plus any housing benefits, is included.

The weights are calculated on the basis of data from the national accounts on final consumption expenditure of households in Denmark, distributed among 70 commodity groups. For each of these, a further division is made by using the detailed information on consumption expenditure of Danish households from the Household Budget Survey. The weights were last adjusted in connection with calculating the index for January 2021 and are based on estimated private consumption expenditure in 2020. The weights are updated on a yearly basis. Up till December 2000 the index was calculated with 1980=100 as the base year. From January 2001 until December 2015 the index was calculated with 2000=100 as the base year. As from January 2016 the index is calculated with 2015=100.

The consumer price indices divided by group of households have been published since December 2016 and have been calculated back to 2006. These indices have 2015=100.

Classification system

ECOICOP (European Classification of Individual Consumption According to Purpose) is an European version of the international classification of consumption goods and services, COICOP. ECOICOP is more detailed than COICOP. The description of the ECOICOP Group 12.6.2.1 (Charges by banks) has been changed in the statbank in relation to the official description to emphasize that interest payments and fees relating to the purchase and ownership of owner-occupied housing are not covered in the consumer price index.

Sector coverage

The household sectors purchase of goods and services in Denmark and foreigners purchase of goods and services in Denmark.

Statistical concepts and definitions

Consumer price: The price paid by the consumer, i.e. including VAT and taxes and after deduction of any subsidies.

Price index: Explanations of other concepts regarding index calculations can be found in the publication (in Danish) Index calculations.

Statistical unit

Groups of consumer goods and services. The concrete division of goods and services can be seen in the document "Vægtgrundlag" at the following link: Groups of goods and services.

The consumer price indices divided by group of households have been divided across some of the same household groups that are being used in the Households Budget Survey.

Statistical population

The population consists of the goods and services, which are included in the consumption expenditure of domestic households and private foreign visitors to Denmark.

Reference area

Denmark.

Time coverage

2000-

Base period

The consumer price index is published with 2015=100.

The consumer price indices divided by group of households is published with December 2005=100.

Unit of measure

Index values and percentage changes.

Reference period

The prices are collected monthly during the period from 7th to 15th.

Frequency of dissemination

The consumer price index is published monthly.

Legal acts and other agreements

The consumer price index is compiled in pursuance of section 8 of the Act on Statistics Denmark and Consolidated Act on calculation of an index of net retail prices.

There are no European Union regulations relating to the consumer price index.

Cost and burden

The total response burden imposed on the reporting of data for the consumer price index, the index of net retail prices and the European Union's harmonized consumer price index is estimated at 2078 hours or 0.578 mill. Dkr.

Comment

More information is available by contacting Prices and Consumption, Statistics Denmark.