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2018 starts off with elevated cost of living

Published by BBN Staff at February 28, 2018

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Posted: Wednesday, February 28, 2018. 7:50 pm CST.

BBN Staff: Coming off of a full year of increased inflation, the cost of living in Belize for the month of January 2018 was even higher than last year.

The latest Consumer Price Index, released today by the Statistical Institute of Belize, shows that the cost of goods and services were an average of 90 cents higher than they were in 2017. Keeping with the trend from last year, the price of fuel continues to push up the cost of living.

‘‘Fuel and Lubricants’ the price per gallon of Premium gasoline rose 13.1 percent from $10.12 in January 2017 to $11.45 in January 2018, Regular gasoline rose 3.4 percent from $9.96 to $10.29, while the price per gallon of Diesel was up 9.7 percent from $9.12 to $10.00,” the SIB said.

The ‘Housing, Water, Electricity, Gas and Other Fuels’ category also reported a 0.9 percent increase during the first month, due primarily to increases in home rental costs and the cost of butane.

Consumers did find some relief in ‘Food’ prices with a marginal decrease of 0.2 percent. The price of several meat products went down including ground beef, pork chops, whole chicken and pigtail, eggs and milk. The ‘All Other Categories of Goods and Services’ together experienced an even smaller decline of 0.1 percent due to lower prices within ‘Recreation and Culture’.

Prices were up in all municipalities countrywide, highest in Punta Gorda with 1.8percent, followed by Belize City with 1.5 percent. Inflation was lowest in Belmopan with 0.1 percent.

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