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Jun 24, 2015

SIB Releases Latest Statistics

The May figures in respect of the cost of living have been released by the Statistical Institute of Belize. SIB says the prices remain almost one percent lower than in the same period last year. Inflation rate stood at negative zero point nine and the Consumer Price Index declined by close to one percent. According to SIB, transport is the main contributor to the slight dip in prices. This is attributed to a decrease in fuel prices. International airfares also went down and so did liquefied petroleum gas prices. While food prices generally remained much the same, prices for items such as beef products and red kidney beans were down.  But health costs went up by five percent, while the cost of household domestic services increased by four point five percent. Motor vehicle insurance premiums rose by more than seven percent. SIB also reports that only in Dangriga there was an overall increase in consumer prices while Belmopan experienced the biggest average drop. Turning to external trade, imports in May were valued at one hundred and sixty two million dollars, reflecting a sixteen point eight percent decrease recorded in May of 2014. There was a drop in the importation of ‘Mineral Fuels and Lubricants and Food and Live Animals and purchases of goods destined for the Commercial Free Zone declined by almost seven million dollars. As it relates to domestic exports for May 2015, that figure stands at fifty point six million dollars, down by twenty point three percent compared to May 2014. Sugar exports went down by ten million dollars, crude petroleum earnings dropped by four point five million and citrus concentrate exports decreased by one point six million dollars. The best news was in the exportation of marine products, which grew by almost three million dollars, in farm shrimp sales. Goods exported during the first four months of 2015 stood at two hundred and forty seven point eight million dollars, which is about ten percent less than last year.

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