Cost of living went down marginally in August

By BBN Staff: Belizean households got a marginal reduction in the cost of living during the month of August, according to the latest Consumer Price Index (CPI) produced by the Statistical Institute of Belize.

According to the CPI, Belizeans spent an average of 70 cents less for goods and services for the month of August 2019, when compared to August 2018. The SIB’s data showed that ‘Housing, Water, Electricity, Gas and Other Fuels’ was the main category that showed a reduction in prices (down 3.4 percent), due mainly to lower home rental costs,
which the SIB says holds the largest share of any individual item within the average household budget.

The second-largest decrease in consumer prices was recorded in the ‘Transport’ category declined overall by 1.8 percent during the month, due mainly to lower international airfares, which were down by 11.3 percent compared to August of 2018.

“For the first month since the start of 2019, Orange Walk Town experienced the highest rate of increase in consumer prices, with an inflation rate of 2.7 percent for August 2019. Consumers in this municipality saw above-average increases in prices for food items and home rental costs,” the SIB said.

On the other hand, Dangriga Town continued to experience the lowest inflation rate, with prices going down by 4.9 percent on average, as this town saw a reduction in home rental costs during the month.

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