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Jun 2, 2017

Cost of Living Keeps Rising

A release sent out by the Statistical Institute of Belize on Wednesday shows that the prices of goods and services regularly purchased by households were up by two point two percent for the month of April, when compared to April of 2016. An inflation of one point nine percent was recorded for the first four months of the year. According to S.I.B., inflation rate for the transport industry was up by seventeen point nine percent, largely as a result of increase in international airfares. Housing, water, electricity, gas and other fuels saw an overall increase of one percent due to higher prices of L.P.G. and home rentals. Prices within the ‘fuels and lubricants’ sub-category also increased by eleven point five percent. The highest increase was felt in the price per gallon of premium gas; diesel and regular fuel were also up for April of this year.

All other goods and services were up by zero point one percent. Food and non-alcoholic beverages registered a one point seven percent decrease, attributed to falling price of beef steak, chicken breast, milk, eggs, onions, cabbages and watermelons. Across the nine municipalities, Belmopan recorded the highest increase in consumer prices for the month followed by Dangriga.  Punta Gorda Town saw the food prices falling the most during the month and recorded the lowest inflation rate.

As it relates to external trade, imports are down by ten point four percent and exports are up by three percent for April 2017.  Belize’s total imports for this April were valued at one hundred and forty-six point seven million dollars; this was a decrease to the one hundred and sixty-three point eight million dollars in imports last year. S.I.B. notes that imports went down across most categories, including goods destined to the Commercial Free Zones.  Total domestic exports for April 2017 amounted to thirty-five point seven million dollars, up three percent or one million dollars. Sugar was the only major export commodity that saw a sizeable increase during the month and continues to be Belize’s top export earner; while both citrus and crude petroleum declined considerably in April of this year.

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1 Response for “Cost of Living Keeps Rising”

  1. Belizean pride says:

    stop it for God sake stop it, better is yet to come!!!!
    Scumbags they are ripping us with high cost of living, where is better is yet to come, where barrow, he must have forgotten like those immigration officers being taken to the senate inquiry.

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