Consumer prices up by negligible 0.1 percent during month of July

Published by BBN Staff at August 26, 2020

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Posted: Wednesday, August 26, 2020. 3:25 pm CST.

By BBN Staff: The Statistical Institute of Belize’s (SIB)s latest Consumer Price Index (CPI) says that Belizeans paid an average of 0.1 percent more for goods and services in the month of July 2020, than they did for the same months last year.

The SIB said that the marginal increase was the result of higher home rental costs and prices for a variety of food items being balanced out by substantially lower prices for fuel and Liquefied Petroleum Gas (LPG).

“Notable increases were seen in prices for tomatoes, cabbages, plantains, oranges, ground beef, whole chickens, natural milk, red kidney beans, and eggs. These were partially balanced out by reduced prices for other food items, including beefsteak, pigtail, pineapples, sweet peppers and watermelons,” the SIB said.

Under the ‘Housing, Water, Electricity, Gas and Other Fuels’ category of the CPI prices had gone up by 0.7 percent due to an increase in home rental costs in Belize City, San Ignacio/Santa Elena Town and Punta Gorda Town. However, those increases were mitigated by what the SIB described as a “substantial drop” in LPG prices, which were 20.3 percent lower than they were in July of last year

By municipality, Orange Walk Town saw the highest monthly increase in consumer prices, with an inflation rate of 1.3 percent. Meanwhile, Belize City, Dangriga, and Punta Gorda Town, on the other hand, all experienced overall reductions in consumer prices when compared to July 2019.

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