August Inflation Reaches 4.4%; Consumer Confidence Slips

The Statistical Institute of Belize (SIB) reported higher consumer prices and a slight decline in consumer confidence in August 2026. The national Consumer Price Index (CPI) increased by 4.4% compared with August 2025, while the Consumer Confidence Index (CCI) slipped from 42.6 in July to 42.4 in August.
Higher transport, housing, and food costs drove the increase in consumer prices. Transport costs rose by 11.7%, with diesel recording the largest increase among the selected fuels. Diesel prices climbed by 26.9% to $15.02 per gallon, while regular gasoline increased by 19.8% to $14.16 per gallon.
The housing, water, electricity, gas, and other fuels category rose 4.4% as electricity, rent, and water costs increased. The cost of consuming 225 kilowatt-hours of electricity increased from $84.25 to $94.90. Meanwhile, food and non-alcoholic beverage prices rose by 2.5%, with sugar, poultry, instant coffee, and bakery products among the items recording increases.
San Pedro recorded an inflation rate of 3.5% compared with August 2025. San Ignacio/Santa Elena registered the highest rate at 6.4%, while Punta Gorda recorded the lowest at 2.7%.
For the first eight months of 2026, the year-to-date inflation rate stood at 2.9%, driven mainly by transport, food, and housing costs.
Consumer confidence remained below 50, indicating that consumers continued to hold a generally pessimistic view of economic conditions. The Present component declined from 40.2 to 39.8, while the Expectations component fell from 52.0 to 51.6. However, the Durable Goods component improved slightly from 35.5 to 35.8. Following an improvement in July, the overall index declined marginally in August.
During the SIB’s September 30th presentation, statistician Juan Blanco explained that consumer sentiment varied across districts and demographic groups. Stann Creek recorded the largest improvement, with its index rising from 38.4 to 48.5. He attributed this increase mainly to residents becoming less pessimistic about current economic conditions and their household situations.
In contrast, Orange Walk and Corozal recorded notable declines in consumer confidence, reflecting increased pessimism among residents in the northern districts.
Blanco also reported that men’s consumer confidence fell by 7.5% during the month. All three components recorded decreases, with Expectations showing the largest decline. Among women, consumer confidence rose 5.5% between July and August, suggesting a less pessimistic outlook.
The August figures showed that consumers faced higher prices across several major spending categories while overall confidence remained subdued. However, the improvements recorded among women and in Stann Creek highlighted differences in economic sentiment across the country.