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Oct 30, 2019

Cost of Living Remained Much the Same in September as it was in 2018

According to the Statistical Institute of Belize, prices for household goods and services in September remained much the same as last year except for a minimal point one percent decrease. The S.I.B. notes that higher prices for various food items as well as tertiary education were offset by lower prices for fuel, home rental costs and international airfares.  The inflation rate between January and September stood at point two percent.  There was a slight increase of point eight percent in the prices of meats, including beef steak, pigtail and chicken. Additionally, higher prices for several fruits and vegetables, such as pineapples, sweet peppers, onions, tomatoes and cabbages contributed to the overall increase in this category. But lower prices were recorded in ground beef, pork chops, red kidney beans and watermelons.

As it relates to imports in the same period, imported goods stood at one hundred and forty-one million, down by point nine million for the same period last year.  Imports in Machinery and Transport Equipment declined by five point three million to twenty-nine point three million due to reduced imports in aviation and telecommunications equipment. There was also a reduction in purchases of corrugated steel rods and galvanized coils. Manufactured Goods dropped by two point six million to eighteen million dollars. Mineral Fuels and Lubricants’ went down to nineteen point three million dollars Beverages and Tobacco also went down due to less purchases of cigarettes and hard liquors. The ‘Food and Live Animals’ category also went up by one point seven million dollars to sixteen point eight million.  All in all, in the first nine months of the year, merchandise imports totalled one point four billion dollars, representing a two point eight percent increase over the same period in 2018.

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