SIB reports Consumer confidence improves despite rising cost of living

Belizean consumers showed a slight improvement in confidence in July 2026, even as the cost of living continued to rise. According to the latest reports from the Statistical Institute of Belize (SIB), the national Consumer Confidence Index increased for the first time since the beginning of the year, while consumer prices rose by 4.1% compared to July 2025.
The Consumer Confidence Index stood at 42.6 in July, up 3.6% from 41.1 in June. SIB reported improvements across all three areas measured by the index: consumers’ views of their present financial situation, expectations for the coming year, and their willingness to purchase major household items.
The largest improvement was in consumers’ assessment of present economic conditions and their household finances. This component increased by 7.1%, from 37.6 in June to 40.2 in July. Expectations for the next 12 months rose by 1.2% to 52.0, while confidence in purchasing durable goods, such as furniture, electronics and vehicles, increased by 3.3% to 35.5.
Urban consumers, including those living in San Pedro Town, reported a stronger increase in confidence than residents of rural communities. Overall confidence among urban consumers rose by 6.5%, from 40.1 in June to 42.8 in July. Their willingness to make major household purchases increased by 16.9%.
SIB does not publish separate consumer confidence figures for San Pedro. However, the Belize District, which includes the island, recorded an index of 44.0 in July, up from 41.3 in June. These district and urban figures offer the closest indication of how residents may be responding to current economic conditions.
Confidence rose despite continued pressure on household budgets. Belize’s overall inflation rate stood at 4.1% in July, driven mainly by higher transport, housing, utility and food costs. These categories accounted for more than three-fourths of the national increase in consumer prices.
San Pedro recorded the lowest inflation rate among the municipalities surveyed, at 3%. According to the SIB Consumer Price Index report, island residents experienced below-average increases in taxi and sea fares, restaurant and café services, liquefied petroleum gas, and medical services. However, the lower rate does not mean prices decreased; rather, they rose more slowly in San Pedro than in other municipalities.
Nationally, transport costs increased by 12.4% compared to July 2025. Diesel rose from $11.34 to $14.32 per gallon, while premium gasoline increased from $13.22 to $15.54 and regular gasoline from $11.86 to $13.77.
Food and non-alcoholic beverage prices rose by 1.9%, with increases in beef, poultry, sugar, and bread and bakery products. Housing, water, electricity, gas, and other fuels increased by 3.9%, reflecting higher rent and utility costs.
For San Pedro residents, who often must absorb additional transportation and shipping expenses for goods brought to the island, these increases can further pressure household finances. While July’s improved consumer confidence suggests cautious optimism, the index also shows that many Belizeans remain concerned about current conditions and about making major purchases, as everyday expenses continue to rise.