What happened to Denmark's economy and why is it so expensive?
Of the 10 richest countries in the world, Denmark's Consumer Price Index inflation saw a substantial 20.4 percent increase from January 2019 to January 2022. This is the country’s biggest spike in CPI inflation since 1984, according to Statistics Denmark. I gathered data on the top 10 countries by GDP from WorldBank.org and used the International Monetary Fund’s website to calculate each country’s CPI percentage change for all goods from January 2019 to January 2022. I also calculated each country’s CPI percentage change for fuel over the same period. I found sources that addressed questions I had about Denmark's exceptionally high inflation spike, adding weight to my open data results and providing insights into Denmark’s economy. Nordea Corporate reported that the inflation spike around January 2021 was largely due to higher energy prices, including gas. They also stated that wage inflation would drive higher consumer prices, contributing to the 20.4 percent increase in 2...