Fiji consumer prices declined by 0.9 percent in December 2019, compared to a 0.3 percent drop in the previous month. This was the third straight month decline in consumer prices, as prices fell for: housing & utilities (-1.9% vs 1.5% in November), transport (-0.5% vs after being flat in the prior month), communication (-15%, the same as in November) and alcoholic beverages & tobacco (-4.3% vs -2.6%). Meantime, cost rose softer for food and alcoholic beverages (2.8% vs 2.9%), health (0.1% vs 0.5%), while prices were flat for both furnishing, household equipment & routine maintenance (vs 1.0%) and recreation & culture (vs 0.1%). On the other hand, inflation was steady for education (at 5.2%), miscellaneous goods & services (at 3.7%). Meanwhile, inflation accelerated for both restaurants & hotels (0.9% vs 0.3%) and clothing & footwear (1.9% vs 1.7%). On a monthly basis, consumer prices went down 0.4 percent in December, after increasing 0.2 percent in November. Inflation Rate in Fiji averaged 3.92 percent from 2003 until 2019, reaching an all time high of 10.50 percent in April of 2010 and a record low of -0.30 percent in April of 2009. source: Reserve Bank of Fiji
Inflation Rate in Fiji is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Fiji to stand at 1.40 in 12 months time. In the long-term, the Fiji Inflation Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.