Tuesday 28 February FIJI’s inflation rate rose to its highest level last month standing at 6.8 per cent, the Reserve Bank of Fiji has revealed.
The last time Fiji had a high level of inflation was in October 2011 when it was recorded at 7.7 per cent.
The central bank, in its January 2017 Economic Review released yesterday, said the inflation rate had a significant increase compared with December last year when it stood at 3.2 per cent.
This was lower than the 4.3 per cent in November 2016.
Inflation is the rate at which the general level of prices for goods and services rise and consequently the purchasing power of a currency falls.
This means as inflation rises, it decreases the amount of goods that your money can buy and decreases its purchasing power. Read more…
