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SIB says “everything gaan up,” by 3 percent

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Posted: Thursday, July 29, 2021. 12:52 pm CST.

By Aaron Humes: The Consumer Price Index (CPI), a measurement of pricing of goods, has risen three percent for June of 2021 over June of 2020.

The Statistical Institute of Belize (SIB) attributes the increase to higher costs for motor vehicle fuels, food items, liquefied petroleum gas (LPG), and personal care products, with lower hotel accommodation rates partially offsetting the effects of these increases.

Fuel prices are a quarter higher than they were last year and new motor vehicles cost 2.4 percent more. At the pump, diesel saw the highest increase, with the average price per gallon rising by $3.20, from $7.38 in June 2020 to $10.58 in June 2021. Regular gasoline was up by $2.89, from $8.16 to $11.04, while premium gasoline increased by $0.38 from $11.06 in June of last year to $11.43 in June of this year.

Food prices rose nearly 4 percent, with the highest increases seen for meats, which were up by almost 6 percent on average, and fresh fruits, which were up by almost 10 percent. Items that

saw marked price increases for the month included oranges, limes, pineapples, potatoes, red kidney beans, pig tail, rice, whole chickens, seafood, eggs, and natural milk.

Liquefied petroleum gas rose by more than 20 dollars, offsetting lower electricity and home rental costs.

Prices however are lower for tablets, television sets, and similar communication devices.

The Twin Towns of San Ignacio and Santa Elena have had it roughest with prices rising more than 3 percent; Punta Gorda on the other hand saw prices decline nearly 2 percent.

For the first six months of 2021, the inflation rate is 2 percent compared to 2020 but 4.6 percent overall, with food and fuel prices rising most significantly.

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