26 Jul 2005

Inflation will reach 4.5pc this year, says Fiji's central bank

8:45 am on 26 July 2005

The Reserve Bank of Fiji is predicting that inflation will reach 4.5 per cent by the end of this year.

The Bank's economic bulletin says the figure could rise even higher because of record high world oil prices.

This has resulted in sharp increases in the price of heating and lighting fuel and transport costs totalling nine per cent.

There have also been recent increases in the prices of food, tobacco and alcohol.