Cost of living went up in June 2018

BBN Staff: Yesterday, the Statistical Institute of Belize (SIB) released its consumer price index survey for the month of June 2018.

According to the survey, consumer prices were up by 0.6%.

The SIB says that the greatest contributor to the overall rise in consumer prices was a 4.5% increase in the transport index which was caused by a significant increment in the price of fuel. In the fuel and lubricants category, a 10.3% increase was observed.

Compared to June of last year, international airfare prices were up by 3.6% while the purchase prices for vehicles increased by 3%. The cost of vehicle repairs and maintenance were also up by 4.9%.

However, food and alcoholic beverages saw a moderate reduction for the month of June. The food category saw a decrease of 0.04% due to the average decrease in prices of meat products.

The prices of fruits and vegetables also saw an increase. Red kidney beans went up by 14.4% and the price of potatoes increased by 15%.

According to SIB, Orange Walk Town had the highest inflation rate at 2.2% because households in that town experienced higher than average increased in the cost of food.

Dangriga Town saw the lowest inflation rate with an average of 1.8% in a decrease of prices of goods and services.

 

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