3 Jul 2007

Inflation rose sharply in April and May says Fiji's RBF

10:49 am on 3 July 2007

The Reserve Bank of Fiji says inflation rose sharply in the country in April and May to about 6-percent.

The Bank's governor Savenaca Narube, has attributed the increase to shortages of domestic market items, the Australian drought which has disrupted supply, and the impact of higher fiscal and excise duties announced in March.

He says given these developments, the year-end inflation is likely to be higher than earlier envisaged.

The Fiji Consumer Council has expressed concern at the latest round of price increases for some items which range from 30-percent to 150-percent.