Chamber President Says Many Factors Can Cause Inflation

While shoppers disagree with Prime Minister Briceño that there has been a two-point-five percent decrease in inflation since 2022, President of the Belize Chamber of Commerce and Industry, Katherine Meighan told News Five today that there are several variables that factor into the inflation rate. Tied very closely to that, she explained, is the issue of importation.

 

Katherine Meighan, President, B.C.C.I

“If you look at the statistics, just generally just what’s out there and you can pull inflation has plateaued. Nonetheless, there are effects that are coming into play. Examples: sometimes what you’re looking at is there is older stock that has now finished and newer stock has come into play. If it’s a commerce related matter. Now, additionally, it could be a demand and supply component as well? So there’s lots of angles that can cause that. Whether it’s all directly connected to external effects, we’ll have to continue to evaluate and see. Nonetheless, I would say, for us, we need to look at the fact that the more we are dependent on external sources, for instance, for food and packaging, the more we’re going to have these sort of effects where inflation comes in and can increase prices in a very unpredictable way.”