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SIB: Cost of living showed very minimal increase in February

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Posted: Thursday, March 28, 2019. 3:56 pm CST.

By BBN Staff: Rising costs of select food items, international airfares, and butane, averaged out against decreasing costs in fuel and home rental prices resulting in a 0.1 percent increase in the cost of living for the month of February, according to the Statistical Institute of Belize (SIB).

The SIB’s latest consumer price index shows that Belizeans paid an average of 20 cents more for goods and services during the month of February 2019, when compared to February 2018. The CPI’s transport index showed a decline of 1.2 percent, driven primarily by a reduction in all types of fuel when compared to last year. All three types of gasoline and diesel had been high for the majority of 2018 but got drastic reductions close to the year’s end.

“Food and Non -alcoholic Beverages” went up by a marginal 0.3 percent, with higher prices for items such as eggs, natural milk, along with some vegetables and fruits, as well as meat products such as chicken, ground beef and beef steak.

Lower rental costs in municipalities like Belmopan and Dangriga were the major drivers of the 0.4 percent decline in the “housing, water, electricity, gas, and other fuels” index and the “All other categories of goods and services,” index saw an increase of 0.8 percent.

By municipality, Punta Gorda saw the greatest increase in consumer prices, 3.4 percent, while consumer prices in Dangriga were the lowest, going down by 6 percent.  

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