Cost of living goes up

Consumer prices increased by an average of 1.3 percent in 2019, according to a report by Statistics Faroe Islands.

The biggest price increase was in the ‘clothes and footwear’ commodity group, with an increase of 5.6 percent. 

 >> SEE ALSO Grocery store sales go up

The second-highest increase was in the food and non-alcoholic beverages group, at 2.3 percent. 

Interest rates for housing loans decreased by 4.6 percent, while rental prices increased by an average of 4.9 percent.

Translated by prosa.fo