Posted: Wednesday, August 29, 2018. 2:43 pm CST.
By BBN Staff: Today, the Statistical Institute of Belize (SIB) released its consumer price index survey for the month of July 2018.
According to the survey, consumer prices were up by 0.5% last month.
This means that the average Belizean household experienced a 0.5 percent increase in the cost of regularly purchased good and services when compared to the same month last year.
The SIB says that the greatest contributor to the overall rise in consumer prices was a 3.9 % increase in the transport index which was caused by a significant increment in the price of fuel.
In the fuel and lubricants category, an 8.7% increase was observed.
Compared to July of last year, international airfare prices were up by 3.6% while the purchase prices for vehicles increased by 2.6%. 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 July. The food category saw a decrease of 0.6% due to the average decrease in the prices of meat products.
In comparison to July 2017, the cost of coffee, tea, and cocoa saw a slight decrease in prices.
Across ‘All Other Categories of Goods and Services’ prices saw a 0.7 percent increase on average.
According to SIB, Orange Walk Town had the highest inflation rate at 1.9 % 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 -2.2 % with households experiencing lower than average changes in food and rental costs.
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