Good news for consumers as retail prices for some essential food items has reduced since last month as a direct result of lowered fiscal duty rates, which have been reduced from 32 per cent to 15 per cent.
The Fijian Competition and Consumer Commission in recent months has passed on some significant reductions in retail prices for essential food items, which were mainly effective in September.
FCCC says this new reduction brings much-needed relief to Fijian households by making staple items more affordable.
They say prices of products such as canned mackerel, soybean, and canola oil, among others have reduced substantially, helping to make these essential goods more accessible for all Fijians.
They say for instance, the new price for Golden Ocean Mackerel in Natural Oil 425 grams will be reduced from $2.28 to $1.82, and Family Choice Brand Canola Oil 5 litres will be reduced from $28.19 to $16.94. Both prices came into effect 22nd of last month.
These price reductions represent a significant stride in enhancing the affordability of essential items for Fijian families and reflect the FCCC’s commitment to ensuring that market changes benefit consumers, fostering overall community well-being.
FCCC says their vigilance in monitoring local market fluctuations and promptly implementing necessary price adjustments remains pivotal in alleviating cost-of-living concerns and ensuring long-term market sustainability.