Prices down

Posted: Thursday, December 24th, 2015. 2:45 p.m. CST

By Aaron Humes: The Statistical Institute of Belize has released its latest figures and they show prices trending down in November, led mainly by the falling price of fuel.SIB logo

The costs per gallon of premium and regular gasoline were down by 25 percent and 27 percent, respectively, while diesel declined by 24 percent in comparison to November 2014.

And along that line, International airfares were 37 percent lower than during the same month last year – which has to do with the falling price of oil and an increase in the number of carriers and flights to and from Belize.

LPG or Butane declined by almost 30 percent, as the average price of a 100-pound cylinder fell to $84 in November 2015 from $117 in the same month last year.

Food prices were also down from last year. Despite higher prices for beef, pork, eggs, the price went down for red kidney beans, cooking oil, shortening and fresh vegetables.

A release says that the prices of goods and services purchased by Belizean households were, on average, 1.2 percent lower in November 2015, than in November of last year. So, for the first eleven months of this year, the inflation rate was negative 0.9 percent.

All municipalities across the country recorded falling consumer prices during November 2015, with the exception of Dangriga, where prices increased by 2.1 percent due to higher home rental costs. Belmopan recorded the biggest drop in consumer prices with an overall decrease of 3.3 percent.

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