3 Mar 2008

Retail spending slows in Fiji

2:45 pm on 3 March 2008

The Fiji Retailers Association has confirmed that a number of small businesses in Vanua Levu and Viti Levu have closed due to low consumer spending.

The Association President, Himmat Lodhia, says people are now spending more on essential items leading to the closure of small shops.

He has also confirmed that some of the shop owners cannot even afford to pay their rent.

He Told Fiji Village that consumer spending was reducing day by day.

According to Mr Lodhia, with the inflation rate now standing at 7.4 percent, the worst is yet to come.