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“Belize closed 2019 with higher consumer prices,” says Statistical Institute

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Posted: Wednesday, January 29, 2020. 5:52 pm CST.

By BBN Staff: The latest data from the Statistical Institute of Belize (SIB) says that consumer prices at the end of 2019 were slightly higher than they were in the same period the previous year.

The SIB Consumer Price Index (CPI) showed that Belizeans paid an average of 0.2 percent more for goods and services in December 2019 than they did in 2018, with airfare, food, and education being the major factors for the increase in inflation.

The ‘Food and Non-Alcoholic Beverages’ category had been trending upwards in months prior and continued to trend with a 0.8 percent increase in December 2019. The major contributors to this upward change were higher prices for several fresh vegetables such as tomatoes, plantains, sweet peppers, and onions, as well as various meats such as pork chops and pigtail.

The Transport category saw a 2.1 percent increase, due to a 24.1 percent increase in the cost of international air fair and increases in the prices for both Regular and Premium Gasoline, with only Diesel seeing any reduction for that month.

Measuring inflation by municipality, the SIB said that “The highest increase in consumer prices was experienced in the Orange Walk Town, with an inflation rate of 3.2 percent for December 2019. This was due to significantly higher prices for home rentals and fruits and vegetables.”

Meanwhile, Punta Gorda Town actually saw a decrease in consumer prices of 1.6 percent, the highest of any decreases seen last year.

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