Year-to-date inflation hits 3.6 percent as food and service costs surge

Posted: Thursday, October 31, 2024. 11:05 am CST.

By Aaron Humes: The inflation rate for the first nine months of 2024 has reached 3.6 percent greater than the same period last year, driven primarily by rising costs in food and services. The “Food and Non-Alcoholic Beverages” category saw a significant 6 percent increase, with higher prices for fresh vegetables, dairy, and meats.

Additionally, “Restaurant and Accommodation Services” experienced a notable 8.8 percent inflation rate, making dining out more expensive for consumers. In the housing sector, costs rose by 2.3 percent, largely due to increasing rental prices.

Other areas affected include personal care products, up 4.8 percent, and household maintenance items, which rose by 4.2 percent. Conversely, the “Information and Communication” category declined by 1.8 percent, with lower prices for cellular phones and televisions.

As the economic landscape continues to shift, consumers are feeling the impact of these rising costs, prompting discussions on future spending and financial stability in the coming months.

Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-612-0315.

© 2024, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.