Food inflation in Denmark at 24-year high

Copenhagen, Denmark -- Food prices in Denmark rose 9.4 percent in the past 12 months, the highest jump in 24 years, Statistics Denmark said Friday.

Overall inflation in Denmark is at 3.8 percent, but some items have gone down in price, the Copenhagen Post reported. Clothing and shoe prices have fallen 2.1 percent from June 2007 to June 2008, the Post said.

"Globalization is winning in the form of increased oil and food prices, which is skyrocketing inflation in Denmark," said Tore Damgaard Stramer, an economist with Danske Bank.

Higher salaries that come with high levels of employment are also pushing inflation in Denmark, Stramer said.

Copyright 2008 by United Press International.