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Prices in New Caledonia 33 percent higher than in France: report

Prices in New Caledonia 33 percent higher than in France: report
Prices in New Caledonia 33 percent higher than in France: report
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A new report says prices in New Caledonia are on average 33 percent higher than in France.

The figures were compiled by IOEM which is the body issuing the French Pacific franc, RNZI reports.

It found that food products were 73 percent more expensive, attributing this in large part to a lack of competition and protectionism.

Communication costs are 64 percent higher, with the IOEM noting that prices have dropped but not as quickly as in France.

Transport costs in New Caledonia are two percent higher. The report noted that the price difference has remained stable this decade. Inflation in the past year was 1.4 percent.

Related: ‘Many Investors in New Caledonia are Looking to Move to Vanuatu’

Hugues Morival, the Director of New Caledonian CesssionsAcquisitions company that has recently opened a subsidiary in Vanuatu, in this exclusive interview for Vila Times explains why investors in New Caledonia and French Polynesia want to move to Vanuatu, how to sell your business in the Pacific, and what countries in South East Asia are the best in terms of growth and return on investments.

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