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Sunday, August 14, 2022
HomeGovernance and SocietyLiving costs increase

Living costs increase

Prices in the Faroe Islands have gone up again, according to Statistics Faroe Islands.

In the past year, prices increased in all major categories except ‘Leisure & Culture’ and ‘Communications’.

The greatest increase (3.1%) was in the ‘Various products and services’ category, with fees for financial services making up the bulk of this increase.

‘Alcohol and tobacco’ saw a 2% increase, ‘Hotels and Restaurants’ rose by 1.5% and ‘Accommodation’ rose by 1.4%.

Food is 0.4% more expensive than this time last year. The price of fish and meat increased, while vegetables became slightly cheaper.

The price level in the ‘Leisure & Culture’ category decreased by 0.6% and ‘Communication’ decreased by 0.3%.

This article was originally published on Kvf.fo

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