Fiji Inflation Rate Eases from Over 12-Year High

The annual inflation rate in Fiji slowed to 5.8% in May 2024 from 7.1% in the previous month, which was the highest level since December 2011, with food prices easing to 7.7% from an over three-year high of 12.2% in April.

Also, prices moderated for restaurants and hotels (9.9% vs 10% in April), miscellaneous goods & services (4.8% vs 5.0%), furnishings, household equipment & routine maintenance (1.9% vs 2.2%), and alcoholic beverages and tobacco (7.7% vs 8.2%).

Meanwhile, prices accelerated for transport (5.7% vs 5.5%), housing (5.1% vs 3.1%), and recreation and culture (1.6% vs 1.5%), while inflation was steady for education (at 0.4%).

On a monthly basis, consumer prices dropped by 0.6% in May, the steepest decline in four months, reversing from a 1.8% rise in April, which was the fastest pace since February 2021.