By BBN Staff: Belizean households spent an average of $2.60 more for every $100 spent on goods and services for the first nine months of this year, than they did for the same period last year, according to the Statistical Institute of Belize (SIB).
The SIB’s cumulative Consumer Price Index (CPI) data taken from January- September 2021, shows an overall inflation rate of 2.6 percent, due to price increases in a number of commodities.
“‘Food and Non-Alcoholic Beverages’, which saw a 4.8 percent increase, was the biggest contributor to the overall cumulative inflation rate, as prices for fresh fruits and vegetables, meat products, seafood, and vegetable oils continued to rise.” the SIB said. “The ‘Transport’ category had a year-to-date inflation rate of 6.9 percent, due to higher prices for all motor vehicle fuels, while prices in the ‘Housing, Water, Electricity, Gas and Other Fuels’ category went up by 1.2 percent, as a result of higher LPG prices and home rental costs.”
The SIB also said that the cost of Personal Care, Social Protection, and Miscellaneous Goods and Services rose by 1.8 percent, driven up mainly by increases in prices for personal hygiene items and men’s and women’s haircuts.
There were some declines in prices, such as the ‘Restaurants and Accommodation Services’ category which saw a 5.9 percent decline as lower hotel accommodation rates were recorded for the first nine months of 2021 when compared to the same period of 2020.
For the month of September 2021, the All-Items Consumer Price Index (CPI), which suent (reflecting an increase of $3.60 summarizes price levels for all categories of consumer goods and services, was up 3.6 per more for every $100 spent).
This SIB noted that the higher costs for that month were mainly the result of higher prices for motor vehicle fuels, food items, liquefied petroleum gas (LPG), and personal care products.