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Most recent Economic Memos
Economic Memos provide insight into the analysis work being performed by Danmarks Nationalbank’s employees. For example, Economic Memos contain background analyses and method descriptions. Economic Memos are primarily targeted at people who already have a knowledge of economic and financial analyses.
Inflation – why did it rise and what are the drivers ahead?
The surge in inflation in 2021-22 reflects the covid-19 pandemic and Rus-sia’s war in Ukraine as well as the associated policy responses. In 2023-24, at least three factors are likely to drive inflation: (a) more stable energy prices, (b) an expected slowdown in aggregate demand growth caused in part by tighter monetary policy, and (c) improving supply chains.