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Cost of living went up by over $2 per every $100 spent for first 10 months of 2021

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Posted: Thursday, November 25, 2021. 7:01 pm CST.

By BBN Staff: For the first 10 months of 2021, Belizeans paid an average of more than $2 for goods and services when compared to the same period last year, according to the Statistical Institute of Belize.

The SIB’s latest consumer price index showed that the year-to-date inflation rate for the period January-October 2021, was 2.8 percent higher than it was for that period in 2020, an average of $2.80 cents more for every $100 spent.

The SIB said that consumer costs were driven up mostly by higher food, fuel, and butane prices.

Higher prices for fresh fruits and vegetables, cereal products, and meats raised prices within the ‘Food and Non-Alcoholic Beverages’ category by 4.9 percent.

“‘Transport’ increased by 7.8 percent for the year-to-date, as prices for motor vehicle fuels rose by more than 15 percent compared to the first ten months of 2020,” the SIB said. ” ‘Housing, Water, Electricity, Gas and Other Fuels’ was up by 1.4 percent, mainly due to higher prices for LPG, while the ‘Personal Care, Social Protection and Miscellaneous Goods and Services’ category rose by 1.6 percent, primarily due to higher prices for personal hygiene items.”

There were, however, some price reductions recorded.‘Restaurants and Accommodation Services’ were down by 5 percent compared to the first ten months of 2020, due largely to lower hotel accommodation rates. Meanwhile, the SIB said that the ‘Information and Communication’ category declined by 3.5 percent, resulting from reduced prices for tablets, external storage devices, and television sets.

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