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Inflation and price development

Wage Development in Denmark

In recent years wage increases in Denmark have been at a historically low and stable level. From mid-1995 to the end of 1997 hourly wages for workers in manufacturing, which are the topic of this article, thus rose at a by and large unchanged rate of approximately 4 per cent per annum, cf. Chart 1. From the end of 1991 to 1995 the wage increases were even lower, ranging from 2 to 4 per cent per annum, a level otherwise not seen since 1950. This level of Danish wage increases to a great extent reflects an international trend following the general reduction in the inflation rates of many countries since the 1980s.