Fiji Inflation Rate at 8-Month Low of 4.2%

The annual inflation rate in Fiji dropped to 4.2% in September 2024 from 5.4% in the previous month, marking the lowest level since January.

Food prices saw their smallest increase in six months (7.5% vs. 9.6% in August), while a slowdown in housing prices contributed to its lowest inflation in 12 months (1.0% vs. 2.1%).

Additionally, restaurant and hotel prices recorded their slowest rise since January 2023 (5.2% vs. 5.3%).

At the same time, prices fell more sharply for transport (-1.2% vs. -0.2%), recreation and culture (-0.7% vs. 0.4%), and furnishing, household equipment, and routine maintenance (-0.9% vs. -0.7%).

On the other hand, inflation picked up for miscellaneous goods and services (1.8% vs. 1.7%) and alcoholic beverages and tobacco (11.6% vs. 10.1%), while education costs remained steady for the seventh consecutive month (at 0.4%).

On a monthly basis, consumer prices declined by 0.5% in September, reversing from a 0.4% increase in August.