The Fijian Competition and Consumer Commission confirms from the submissions received over the past four months for basic food items, 440 led to price increases, 34 led to price decreases and 89 led to no changes in price.
FCCC has yet to provide a list of these items.
Acting CEO, Vinitesh Kumar price submissions received in recent months cited higher importation costs which were attributed to significant increases in international freight rates.
He says they have seen surges in the freight rates as high as 139%.
The Acting CEO says further says FCCC is working closely with the Australian Competition & Consumer Commission and shipping industries in the country to monitor international freight charges.
Kumar says they have also been working with traders locally to ensure that any extra overhead cost is not passed on to the Fijian consumers.
He also says freight costs have risen all over the world, and this is not unique to Fiji.
The Acting CEO adds the Drewry World Container Index, a respected measure of global freight costs, has increased from around USD $5,000 per 40ft container at the start of 2021 to around USD $9,000 per 40ft container in February 2022.
He says increases in freight cost in Fiji appear to reflect the same factors which have been driving increases globally, and not any Fiji-specific factors.
Kumar states as part of their commitment to protecting consumers in Fiji, they closely monitor these global developments and price pressures can be driven by global trends, but they are committed to addressing any Fiji-specific factors which may contribute to price increases.
Meanwhile the revised budget will be delivered by the Minister for Economy Aiyaz Sayed-Khaiyum at 7.30 tonight.
You can catch the live coverage of the speech on our website, fijivillage.
Stay with us for the coverage on how you will be affected by the budget announcement.
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