Inflation rate remains low

FIJI’s annual inflation rate remained relatively low at 2.0 per cent in June, compared with the 2.5 per cent recorded in May of this year.

This is the lowest it has been this year including last year, as inflation remained high because of the supply shocks that occurred after Tropical Cyclone Winston.

The Reserve Bank of Fiji’s (RBF) Economic Review for the month of July stated that the lower inflation outcome was attributed to the declines in prices of food and non-alcoholic beverages; health; recreation and culture; clothing and footwear; communication and miscellaneous goods and services categories.

And while the central bank projects prices to remain stable in the near term, RBF also expects certain policy measures announced in the 2017/2018 National Budget to influence inflationary outcomes in the coming months.

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