Belize Inflation Rises by 2.2% in January

The latest Consumer Price Index (CPI) report from the Statistical Institute of Belize (SIB) reveals that Belize’s inflation rate rose by 2.2% in January 2025 compared to the same month last year, with price hikes reflected in food, housing, and transport. According to SIB, the CPI rose from 117.3 to 119.8.

Food and non-alcoholic beverages saw a price increase of 2.2%, with fruits like watermelon and pineapples rising by over 16%, and cereal products like bread and tortillas climbing by 2.8%. Meanwhile, fresh vegetable prices dropped by 4.2%. The cost of non-alcoholic beverages surged by 7.6%, particularly for fruit juices and purified water.

SIB reported that housing costs also contributed heavily, rising 2.8%, mainly due to higher home rental prices and an increase in the cost of liquefied petroleum gas (LPG), which jumped by $8.21 per cylinder. Transport costs saw a modest rise of 2%, driven by increased intercity taxi fares and higher international airfare prices.

According to the SIB, some categories saw a decline in prices. The ‘Information and Communication’ sector dropped by 1.5%, primarily due to lower costs for electronics like cellular phones and TVs.

SIB’s report revealed that Belmopan experienced the highest inflation among municipalities, with a sharp 4.5% increase in consumer prices, particularly in food, household goods, and transport services.

SIB reported that despite the year-over-year inflation increase, the month-over-month change from December 2024 to January 2025 was a slight decrease of 0.2%, attributed to lower food prices.