Highlights: 

• The headline inflation rate in Fiji reached its peak in November 2023, at 5.8 percent, marking the highest reading since January 2017. In December, the inflation rate dropped to 5.1 percent, 3.1 percent higher than in December 2022. 
• The commodity groups that contributed the most to the inflation rate in 2023 were Transport (+10 percent) and Food and Non-Alcoholic Beverages (+5 percent), followed by Clothing and Footwear (+4 percent), Restaurants and Hotels (+3.9 percent), and Health (+3 percent). 
• The Fijian Dollar fell in value against and the United States Dollar in the second half of the year: the national currency depreciated by 12 percent in November. The exchange rate with the Australian Dollar and the New Zealand Dollar were favourable. 
• In 2023, remittances totalled FJD1.25 billion, a 20 percent increase from the previous year. Fijians participating in the Pacific Labour Mobility Scheme (PALM) and Recognised Seasonal Employer Scheme (RSE) contributed to increasing remittances.
• Overall, prices of selected food products saw an increase in 2023, with costs varying greatly across quarters. Notably, price of potatoes rose by 27 percent, canned tuna by 16 percent and noodles by 14 percent compared to 2022.
• Results from the WFP’s remote household survey conducted in September and October 2023 indicated that 53 percent of the households in Fiji considered high food prices as a top concern. In Rotuma, Ra, Macuata and Bua provinces 70 percent of surveyed households cited high food prices as their main worry.
• Escalating costs of essential food items have reduced the affordability of basic necessities. For vulnerable households this means purchasing less or opting for cheaper, less nutritious food.