No change in consumer prices between May 2020 and May 2019

By BBN Staff: Despite higher food and home rental costs, there was virtually no change in consumer prices for the month of May when compared to May 2019, according to the latest data released by the Statistical Institute of Belize (SIB).

The SIB’s latest Consumer Price Index said that the higher prices were balanced by lower butane and gasoline prices.

The “Food and Non-Alcoholic Beverages” category saw a 1.1 percent price increase due to a spike in the cost of fresh produce such as tomatoes, cabbages, sweet peppers, and onions; while the price of butane in the “Housing, Water, Electricity, Gas and Other Fuels” category fell by 23.9 percent from $114.59 last year to $87.19 in May 2020. Regular gasoline went from $10.97 to $7.36, Premium went from $11.41 to $1103, and DieSel went from $10.52 to $8.01.

By municipality, Orange Walk had the highest inflation rate, 1.7 percent, while consumer prices were actually down by 2.3 percent in Punta Gorda.

The SIB noted that the year-to-date inflation rate for the first five months of 2020 stood at 0.2 percent.

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