Consumer Prices Increase in March by 0.1%

Saturday, May 7th, 2016

On Wednesday, April 27th, the Statistical Institute of Belize released its latest figures on prices and external trade for the country. The report indicates that prices increased for the month of March, on average, by 0.1%. The Consumer Price Index from March 2016 stood higher at 102.9 compared to 102.7 of March 2015.
After more than a year of decreased prices, January 2016 recorded its first increase. However, the first quarter of this year’s inflation rate is gradually decreasing from a high of 0.4% since January. Due to a 4.4% increase in fruits, the prices from the “Food & Non-Alcoholic Beverages” category recorded an increase of 1.6%. Animal products continue to increase as eggs increased by 8.2 percent, beef and veal increased 16%, and pork increased by 5.5%. Sugar also increased by 29.5%.18 SIB statistics
On the other hand, red kidney beans managed to reflect a decrease of 14.5%. The transport category recorded a 4.7% decrease as the prices of regular and diesel gasoline decreased by 0.9%, and 6.2% respectively, and international airfares significantly decreased by 32%. But premium gasoline spiked an increase by 1.8%. For butane gas, the average price of a 100-pound cylinder decreased from $93 in March 2015 to $84 in March 2016.
In the area of Housing, Water, Electricity, Gas and Other Fuels, prices increased marginally by 0.1%. Home rental prices increased by 0.7% and since the beginning of 2016, this trend continues to rise due to the decreases in electricity and LPG prices.
Across Belize’s seven towns, Corozal and Punta Gorda recorded the highest inflation rates of 1.7% and 1.3%. Over the first quarter, Corozal reported an increase from 1.0% in January to 1.5% in February. For the first three months of 2016, the inflation rate of Punta Gorda has been steady. San Ignacio, Santa Elena, and Belize City stood at negative 0.3%, while Dangriga records the lowest inflation rate of negative 1.0%, a downward trend from 4.0% in January and negative 0.9% in February 2016.


Please help support Local Journalism in Belize

For the first time in the history of the island's community newspaper, The San Pedro Sun is appealing to their thousands of readers to help support the paper during the COVID-19 pandemic. Since 1991 we have tirelessly provided vital local and national news. Now, more than ever, our community depends on us for trustworthy reporting, but our hard work comes with a cost. We need your support to keep delivering the news you rely on each and every day. Every reader contribution, however big or small, is so valuable. Please support us by making a contribution.

Click to Donate

Follow The San Pedro Sun News on Twitter, become a fan on Facebook. Stay updated via RSS

Leave a Reply

Comments are closed on this post.