Living costs increase

16.04.2018 - 15:37
Living costs increase
The general price levels increased by 0.9% in the first quarter of 2018 compared to a year ago.

Prices in the Faroe Islands have gone up again, according to Statistics Faroe Islands.

In the past year, prices increased in all major categories except ‘Leisure & Culture’ and ‘Communications’.

The greatest increase (3.1%) was in the ‘Various products and services’ category, with fees for financial services making up the bulk of this increase.

‘Alcohol and tobacco’ saw a 2% increase, ‘Hotels and Restaurants’ rose by 1.5% and ‘Accommodation’ rose by 1.4%.

Food is 0.4% more expensive than this time last year. The price of fish and meat increased, while vegetables became slightly cheaper.

The price level in the ‘Leisure & Culture’ category decreased by 0.6% and ‘Communication’ decreased by 0.3%.

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