Deputy Prime Minister and Minister for Finance Professor Biman Prasad in Parliament yesterday [Source: Parliament of the Republic of Fiji]

The coalition government has done its part in easing the burden for many local consumers, businesses and entities in light of the global inflation.

This was revealed by Deputy Prime Minister and Minister for Finance Professor Biman Prasad in Parliament yesterday.

Prasad says high inflation rates has adverse effects such as lower purchasing power and making it difficult for consumers to afford basic goods and services.

“As government, we need to understand. We are working with the Fijian Competition and Consumer Commission. Price control mechanism is something that people don’t always like but it is an effective mechanism in circumstances where prices fluctuate quite significantly.”

Prasad says the good news is that inflation rates fell to 1.5 percent last month, compared to 2.5 percent in January.