Fiji’s Deputy Prime Minister and Finance Minister, Professor Biman Prasad, has announced a significant decrease in the country’s inflation rate, which has dropped to 1.4 percent as of February. This represents a substantial decline from the rates of 4.6 percent observed in 2024 and 4 percent in January 2025. The easing of inflation is largely attributed to falling fuel prices and a more controlled increase in the prices of food and non-alcoholic beverages.
In his remarks, Professor Prasad pointed out that prices for local fruits, vegetables, and root crops have stabilized following severe flooding that affected the region in late 2023 and early 2025. He also highlighted the success of the $200 Back to School Support program, which has provided $43.1 million to over 200,000 students, reflecting the government’s commitment to education and financial support for families.
Further demonstrating a focus on economic stability, the government has implemented salary increases for approximately 33,000 civil servants as of last August. Additionally, efforts have been made to reinstate pension payments for retirees who opted for reduced rates following reforms in 2011, with a commitment of $4 million allocated for this purpose in the current financial year.
These initiatives showcase the government’s proactive stance in addressing current economic challenges and its focus on stabilizing prices to enhance the overall living standards of citizens. With ongoing measures aimed at supporting the economy and managing inflation, there is a growing sense of optimism regarding Fiji’s financial outlook and resilience moving forward.
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