23 Jun 2009

Fiji retailers warn of price hikes as dollar dives

3:15 pm on 23 June 2009

The Fiji Retailers Association says asking businesses not to pass on the full impact of price increases given the devalued Fiji dollar doesn't seem possible in the current economic climate.

This comes amid pressure on Fiji households, with the Reserve Bank of Fiji Governor Sada Reddy asking people to become more self sufficient.

He has also asked trade unions to show restraint in wage negotiations and for businesses not to raise their prices.

But the President of the Retailers Association, Himmat Lodhia, says retailers face further hikes in the cost of goods and services and need to break even.

"Most of the consumable goods like necessities, like foods, is increasing in greater proportions than what is envisaged. We're probably looking at greater price increases than even 8, 10 or even 20 percent. Some of the prices have really gotten out of hand, at more than 20 percent."

President of the Fiji Retailers Association Himmat Lodhia