Even higher food prices expected
Although inflation is believed to have peaked, consumer price hikes are likely to continue for a bit longer.
Fresh figures from the Statistics Denmark reveal that 76 percent of Danish grocery retailers expect to further increase their prices over the next three months.
“Since a lot of our grocery products are imported from Denmark, any price hikes there will also be seen here in the Faroes,” says economist Jan Otto Holm.
“It does, however, appear that the worst of the price hikes are behind us now.”
Read the Faroese version of this article here.
More Faroese News in English.