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Cost of living remains up in October

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Posted: Wednesday, November 28, 2018. 5:01 pm CST.

By BBN Staff: As with the majority of 2018, Belizeans had to pay more for goods and services for the month of October according to the latest data released by the Statistical Institute of Belize.

The SIB released its latest Consumer Price Index today, which showed that Belizeans paid an average of 80 cents more for goods and services when compared to October 2017. Unlike previous months, the major driver behind the increase in September was the Housing, Water, Electricity, Gas & Other Fuels category.

The SIB said that home rental costs were up by 1 percent, the cost per 100 lb cylinder of butane was up by almost $15 and that electricity tariffs were over 6 percent higher than they were last year.

The Transport sector was the second largest contributor to the overall increase, led primarily by the high cost of fuel. followed by rising costs of international airfares.

Food and Non-alcoholic beverages did see a 0.9 percent decrease, with lowered prices for several meat products, such as pigtail and whole chicken, along with some vegetable and fruit items, including sweet
peppers, limes, and cabbages.

“For the third consecutive month, the twin towns of San Ignacio/Santa
Elena experienced the highest rate of increase in consumer prices, with an inflation rate of 2.7 percent,” the SIB said. “Consumers in those towns saw increases in home rental prices that were above the national average for the month.”

In contrast, Dangriga Town saw consumer prices going down by 0.9 percent, as this town recorded lower food and home rental costs compared to October of last year.

 

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