Belize’s Inflation Hits 2.9% as Fuel and Transport Costs Rise

Turning to consumer prices, SIB reported inflation of two-point nine percent for January to August, compared with the same period last year.  Transport was the main contributor, with prices in that category rising by seven percent. Diesel prices increased by seventeen-point eight percent, regular gasoline by eleven-point three percent, and premium gasoline by seven point two percent.  Food and non-alcoholic beverages rose by two-point two percent. Among the increases highlighted were beef, chicken, white bread and instant coffee.  Housing, water, electricity, gas and other fuels increased by two-point eight percent. Higher electricity prices, rent and butane costs contributed to that rise.  Statistician Crespo provided a breakdown of inflation across Belize and compared the country’s performance with others in the region.

San Ignacio and Santa Elena recorded the highest inflation rate at four percent, followed by Benque Viejo at three-point seven percent. Belize City recorded the lowest rate at one percent.  In the regional comparison, Belize’s two-point nine percent inflation rate matched El Salvador’s. Guatemala recorded two-point four percent and Panama one point five percent, while Costa Rica recorded a decline of one point three percent. Honduras and the Dominican Republic both recorded five-point one percent, while Jamaica recorded five point five percent.