Posted: Wednesday, August 28, 2019. 5:02 pm CST.
By BBN Staff: Belizeans paid an average of 20 cents less for goods and services in July 2019 when compared to last year; a decline that the Statistical Institute of Belize (SIB) describes as “negligible.”
In its latest Consumer Price Index (CPI) the SIB said: ” Higher prices for various food items, electricity, tertiary education, nightclub admissions and Liquefied Petroleum Gas (LPG) were offset by lower prices in rent, fuel, and international airfares.”
The SIB noted that the 5.1 percent decrease in the cost of gasoline in the ‘Fuels and Lubricants’ sub-category was the main driver behind the reduction recorded in the Transport index. The SIB said that the cost of all three types of fuel were lower than they were on July 2018. At the pump, the average price per gallon of Premium gasoline went down by 9.1 percent from $11.77 in July 2018 to $10.70 in July 2019, Regular gasoline declined by 6 percent from $11.14 to 10.47, while the price per gallon of Diesel fell by 6.9 percent from $10.81 to $10.07.
The “Food and Non-Alcoholic Beverages” index saw an increase of 1.2 percent, due mainly to increases in the prices of various food items such as beef steak, pigtail, brown sugar, sweet pepper, onion, tomatoes, lime, and cabbage.
By Municipality, Dangriga saw the greatest reduction in consumer prices (a decrease of 5 percent), followed by Belmopan with a reduction of 1.1 percent. Corozal and San Ignacio had marginal decreases of 0.7 and 0.2 percent respectively. Prices in Belize City remained virtually unchanged, while prices in Punta Gorda were up by2.5 percent and prices in Orange Walk were up by a flat 2 percent.
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