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.
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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