More price hikes in retail on the way

New survey has revealed that 60 percent of companies expect to further raise prices in the near future  

If you were hoping the increased prices in the retail sector would stabilise and return to the glory days of yester-month, this bit of news will be a kick in the teeth.

According to a new Danmarks Statistik survey, 60 percent of companies responded that they expect to further increase the prices of their products in the next three months. 

Only 1 percent of companies that responded said they expected to reduce their prices in the coming three months. 

READ ALSO: Prices continue to skyrocket

Spending the same, getting less
Danmarks Statistik compiles its survey every month and, compared to previous months, a greater share of retail companies have indicated that a price increase is on the cards.

The share of companies that have already put up prices has also risen as of late: from 56 percent in April to 64 percent in May.

Prices in Denmark have increased in general in recent months, particularly buoyed by rising energy prices – ultimately leading to the production of goods that require energy becoming more expensive.

The Danish chamber of commerce, Dansk Erhverv, told TV2 News that while consumers in Denmark continue to spend the same amount in retail, they are getting less goods for their money due to the high inflation.