Consumer prices climb 1.7%

16.10.2018 - 14:05
Aktuelt
Consumer prices climb 1.7%
In the third quarter of 2018, consumer prices were 1.7 percent higher than in Q3 of 2017.
Photo: Statistics Faroe Islands
 
 

The period from Q3 2017 to Q3 2018 saw the highest annual price rise in the past six years.

This period had a significantly higher price increase than the 0.6-percent rise in Q2 2017 - Q2 2018.

Prices increased in most product categories in the past year.

The highest increase was in fuel. Fuel oil prices rose by 25.3 percent in the past year. Petrol and diesel prices increased by 13.7 percent, and total transport costs saw a 3.8-percent rise over the past year.

Electricity prices, on the other hand, dropped 3.2 percent.

Total household costs increased by 5.6 percent in the Q3 2017 - Q3 2018 period.

The annual price rise for food was 0.6 percent in Q3, compared with 0.5 percent in Q2.

The largest price reduction in the past year was in the categories furniture, household items, and leisure and culture.

Translated by prosa.fo

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