Posted: Thursday, May 27, 2021. 8:39 am CST.
By Benjamin Flowers: The cost of goods and services for the first four months of 2021 were higher than they were for the same period last year, according to the latest data produced by the Statistical Institute of Belize (SIB).
The SIB’s latest Consumer Price Index (CPI) says that the year-to-date inflation rate for the period January-April 2021 stood at 1.6 percent, when compared to 2020.
“Among all the categories, the most significant change was seen in the ‘Food and Non-Alcoholic Beverages’ category, with an inflation rate of 5.1 percent, due mostly to higher prices for fresh produce,” the SIB said.
‘Personal Care, Social Protection and Miscellaneous Goods and Services’ recorded the second-highest change, going up by 1.9 cumulative inflation rate, due to higher prices for personal hygiene products over the period. The ‘Transport’ category was next, going up by 1.7 percent due to higher fuel prices. The ‘Housing, Water, Electricity, Gas and Other Fuels’ category followed, recording a 1.2 percent year-to-date inflation rate, resulting from higher LPG prices.
However, not all prices increased during the period. Belizeans enjoyed reduced prices within the ‘Restaurant and Accommodation Services’ category, which were down by 11.3 percent compared to the first four months of last year, due to lower hotel accommodation rates.
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