Inflation Rate Stands at 4.3%; Importation Up 28.2% in January 2024

The average prices of select food items, including rice, ground beef, evaporated and powdered milk, as well as cheese have gone up.  That’s according to the latest figures released by the Statistical Institute of Belize.  The Consumer Price Index shows that there has been a four point three percent increase in the national inflation rate.  In January 2024, prices within the food sub-category were up by eight point two percent, as increases were observed in the cost of fresh vegetables, dairy products, meat products and cereal products, including rice, flour and bread.  The cost of restaurant and accommodation services rose by fourteen percent.  The External Trade Bulletin indicates that imports were up twenty-eight point two percent, while domestic exports were down thirty-one point six percent in January 2024.  Total imports for January 2024 stood at two hundred and seventy-two million dollars which is attributed to a considerable increase in the importation of machinery and transportation equipment.