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Cost of living up in May

Posted: Thursday, June 29, 2017. 7:46 a.m. CST.

By BBN Staff: Continuing the trend since the beginning of 2017, the cost of living in Belize was higher in the month of May than it was in 2016.

According to the Statistical Institute of Belize (SIB), the prices of goods and services regularly purchased by Belizean Households were on average 0.7 percent higher than they were during the same month last year. The “Transport” index recorded the highest increase, 8.3 percent, which the SIB says is due largely to increases in international airfares, followed by the increase in the price per gallon of gasoline, and an increase in the price of bus fares implemented in October 2016.

“The highest increase being seen is the price per gallon of Premium gasoline which rose by 18 percent from $9.06 in May of last year to $10.72 in May 2017. Diesel prices increased by 16 percent from $8.19 to $9.47, while Regular gasoline rose by 14 percent from $9.08 to $10.35,” the SIB said.

The ‘Food and Non-Alcoholic Beverages’ recorded an overall decrease of 1.3 percent due to combined, small, decreases in prices for items such as eggs, milk, breakfast cereals, beef products, chicken, onions, cabbages, limes and potatoes.

The ‘Housing, Water, Electricity, Gas and Other Fuels’ category went up by 0.3 percent over last year, due to higher prices for Liquefied Petroleum Gas (LPG). The average cost of a 100-pound cylinder of LPG rose by 18 percent from $83.90 in May 2016 to $98.83 in May 2017.

On average, the ‘All Other Categories of Goods and Services’ went down by 0.6 percent. ‘Recreation and Culture’ went down by 2.8 percent, as entrance fees to sporting activities and night clubs went down. Women’s and children’s clothing, health insurance premiums, and ‘Furnishing, Household Equipment, and Routine Household Maintenance’ also had slight price decreases.

 

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