The Fijian Competition and Consumer Commission advises people and businesses that freight rates are expected to rise, placing upward pressure on the prices of everyday goods across Fiji in the weeks and months ahead.
They say global shipping costs have increased due to escalating geopolitical tensions, particularly disruptions to key trade routes through the Strait of Hormuz and the Red Sea.
FCCC says vessels that would normally transit the Suez Canal are being rerouted around the Cape of Good Hope, adding up to 14 days to transit times and tightening available global shipping capacity.
They say war-risk insurance premiums for vessels in contested waters have also spiked, with these costs passed down the supply chain to end-of-line ports including Suva and Lautoka.
The Containerised Freight Index has risen by more than 35 percent compared to the same period last year.
FCCC says that about 80 percent of consumer goods in Fiji including food, fuel and household essentials are imported, and these pressures are likely to have a more pronounced impact on Fiji than on many other countries.
FCCC CEO Senikavika Jiuta says their message to the public is to plan ahead and shop wisely where possible.
Jiuta says they are closely monitoring the markets and will release updates on specific goods in the coming days.
The sectors most likely to experience immediate impact are fuel and haulage, where increases in freight costs are typically reflected without delay.
They say that construction materials such as steel and cement are also expected to rise while overall, retail and grocery prices are likely to follow with some delay, as initial stocks deplete, goods imported at higher freight costs are expected to begin reaching retail shelves.
The FCCC reminds businesses that any price increases must be fair, transparent and supported by verifiable cost data.
They say traders are required to maintain clear records including freight invoices, supplier correspondence and landed cost calculations to justify any price changes.
Jiuta says they will not tolerate opportunistic pricing and if any trader found exploiting freight cost increases as a pretext for unjustified price hikes will face strict enforcement action.
