Inflation Rate in Faroe Islands increased to 7.30 percent in the second quarter of 2022 from 4.40 percent in the first quarter of 2022. It was the highest inflation rate since third quarter of 2008. source: Statistics Faroe Islands

Inflation Rate in Faroe Islands averaged 1.24 percent from 2002 until 2022, reaching an all time high of 7.90 percent in the third quarter of 2008 and a record low of -3.10 percent in the third quarter of 2009. This page provides - Faroe Islands Inflation Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news. Faroe Islands Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

Inflation Rate in Faroe Islands is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Faroe Islands Inflation Rate is projected to trend around 1.80 percent in 2023, according to our econometric models.

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Faroe Islands Inflation Rate

Related Last Previous Unit Reference
Inflation Rate Mom 3.80 2.30 percent Jun 2022
Inflation Rate 7.30 4.40 percent Jun 2022
Food Inflation 6.20 2.60 percent Jun 2022
Consumer Price Index CPI 133.60 128.60 points Jun 2022

Faroe Islands Inflation Rate
In Faroe Islands, the most important categories in the consumer price index are food and non-alcoholic beverages (20 percent of total weight), housing and utilities (18 percent), transport (14 percent), and recreation and culture (11 percent). Miscellaneous goods and services account for 8 percent; furnishing and household equipment for 8 percent; and clothing and footwear for 6 percent. The index also includes: communication (5 percent); alcoholic beverages and tobacco (5 percent); restaurants and hotels (3 percent); and health (2 percent).
Actual Previous Highest Lowest Dates Unit Frequency
7.30 4.40 7.90 -3.10 2002 - 2022 percent Quarterly