UK residents cut costs on electricity and food amid rising cost of living; Should Belizeans do the same?

Published by BBNTEAM at June 11, 2022

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Posted: Saturday, June 11, 2022. 10:07 am CST.

By Zoila Palma Gonzalez: The increasing rates of inflation continue to be a cause for concern around the world.

The Office for National Statistics (ONS) in the UK show that more residents have reduced their spending on gas, electricity and food.

In addition, the ONS noted that ¾ of all households are worried about the rising cost of living. Inflation reached a 40-year high of 9% in April.

Data also showed that 41% of citizens were spending less on food and “essentials”.

Forty percent of respondents also said that they were not going anymore on non-essential journeys in their vehicles due to the high gas prices.

The UK government has announced a £400 discount on fuel bills for all UK households in October.

Meanwhile, in Belize, statistics from the Statistical Institute of Belize (SIB) show that the inflation rate for April 2022 stood at a whopping 5.8%.

Belizeans are also concerned over the high costs of fuel, the spike in prices for agri-imports, food and other consumer goods.

Last week, the Minister of Agriculture, Food Security and Enterprise, Jose Abelardo Mai, noted that the increasing cost of living in the country is due to inflation being on the rise around the world and both food and energy prices hitting record highs globally.

Along with backyard gardening and planting of okra, Chaya, spinach, callaloo, sweet potatoes, sweet peppers, cebollin, and tomato, Belizeans are now being encouraged to find cost-saving ways to fix their dinner plates.

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