New figures show that wage growth is no longer keeping pace with inflation. At the same time, we are borrowing less and saving more—and that is usually a sign that people have become more cautious.
If it feels like there’s less left in your account at the end of the month, you’re hardly the only one.
New figures from Statistics Greenland indicate that incomes are no longer keeping pace with prices. The statistics do not measure wages directly, but rather the taxes paid on them—and income tax payments rose by only 1.2 percent in the second quarter, compared with 7.1 percent in the previous quarter. Since the figures have not been adjusted for inflation, wages actually have less purchasing power than they did a year ago.
Shopping continues in stores, where sales rose 6.6 percent.
| Change from the previous year | First Quarter | Second quarter |
| Store Sales | +7.4% | +6.6% |
| Income Taxes | +7.1% | +1.2% |
| Duties on Goods Entering the Country | +38.4% | +4.1% |
| Goods Exported from the Country | +9.4% | −6.5% |
| Bank Loans | −20.1% | −20.2% |
| Bank Savings | +26.3% | +20.9% |
Source: Statistics Greenland, Economic Statistics, 2nd Quarter 2026. The figures have not been adjusted for inflation.
This caution is clearly evident at the banks. In just one year, loans have fallen by a good 20 percent, while savings have risen by just under 21 percent.
There is yet another warning sign in the workplace. The volume of goods shipped out of the country fell 6.5 percent after a 9.4 percent increase in the first quarter.
