Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, reported that Fiji’s inflation rate has eased to 1.4 percent in February, a notable decline from 4.6 percent in 2024 and from the 4 percent recorded in January 2025. This reduction in inflation is primarily attributed to decreased fuel prices and a more moderate rise in the costs of food and non-alcoholic beverages.
In his statement, Professor Prasad observed that local fruits, vegetables, and root crop prices have stabilized following the severe flooding experienced late last year and in early 2025. He highlighted the positive impact of the $200 Back to School Support program, which has successfully distributed $43.1 million to over 200,000 students.
Additionally, he emphasized that approximately 33,000 civil servants received a salary increase last August, part of the government’s efforts to promote financial stability among public workers. The Government has also committed $4 million in the current financial year to reinstate pension payments for those pensioners who chose a reduced rate after the reforms made in 2011.
These developments indicate a responsive approach from the government to current economic challenges, building on previous measures aimed at stabilizing prices and enhancing living standards for citizens. This multifaceted strategy not only seeks to address immediate living costs but also reflects a hopeful trajectory towards improved economic resilience in Fiji.
Overall, with ongoing government efforts to bolster economic support and manage inflation, there is a sense of optimism for Fiji’s financial landscape moving forward.
Leave a comment