Cost of living went down in April says SIB

BBN Staff: The latest statistics released by the Statistical Institute of Belize (SIB) said that goods and services in Belize were an average of 50 cents cheaper for the month of April.

The Consumer Price Index (CPI), released today, stated that overall inflation was down by 0.5 percent. The data showed that international airfares were down in the Transport Index; however, increases in the price of fuel offset that decrease. Those prices have risen twice since the compilation of the data in the April CPI.

Prices within the “Food and Non-alcoholic beverages” category had a 0.2 percent decline, mainly due to a reduction in the price of some meat products, including beefsteak, pigtail, and whole chicken, as well as other food and beverage items such as tea, onions, sweet peppers, and cabbages.

“There were, however, some price increases recorded during the month, with red kidney beans, potatoes, limes, other cuts of poultry, and pork chops, seeing higher prices than in April of 2017,” the SIB said.

The institute noted that prices for goods and services within the ‘Housing Water, Electricity, Gas and Other Fuels’ category saw an overall 0.7 percent increase, primarily because of an 18 percent jump in the cost of Liquefied Petroleum Gas (LPG) at the start of April 2018 which took the he average cost of a 100-pound cylinder of LPG rose from $97.81 in April 2017 to $115.51 in April 2018. ‘Home Rental’ costs were also up by 0.2 percent.

The SIB noted that for the first four months of 2018, prices were actually down by a marginal 0.2 percent.

 

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