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Cost of living on the increase
Cost of living on the increase
Consumer prices have increased 1.1 percent in the past year
Cars and clothes have become more expensive, while hotel and restaurant prices have gone down
15.04.2021 - 15:35
It is not getting any cheaper to live in the Faroe Islands.
The consumer prices for the first quarter (Q1) of this year reveal an average increase of 1.3 percent compared to Q4 of 2020, according to Statistics Faroe Islands. Compared to Q1 2020, the increase is 1.1 percent.
Not all prices have, however, gone up.
The consumer price index is made up of 12 commodity groups. Prices in the ‘housing, electricity and heating’, ‘hotels and restaurants’ and ‘education’ groups have gone down, while ‘clothing and footwear’ and ‘transport’ prices have increased.
Read the Faroese version of this article here
Translated by prosa.fo
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