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Aug 26, 2020

Food Home Rental Costs Up, Fuel and LPG Prices Down

The most recent figures from the Statistical Institute of Belize’s monthly Consumer Price Index show that on average Belizean households saw the overall cost of regularly purchased goods and services rise by zero point one percent, when compared to the same month last year.  Statistician Daysi Montero says this was the result of higher home rental costs and prices for a variety of food items.  According to Montero, the ‘Food and Non-Alcoholic Beverages’ category continued its upward trend, with prices rising by one percent overall.  In July, food prices hit their highest level in more than four years and for the fourth consecutive month; prices for fresh vegetables saw a significant increase over the same month last year.  Prices within the ‘Housing, Water, Electricity, Gas and Other Fuels’ category recorded an overall increase of zero point seven percent for the month of July 2020.  During the same month, prices within the ‘Transport’ category were down by two point one percent.  Orange Walk Town saw the highest monthly increase in consumer prices, with an inflation rate of one point three percent.  Belize City, Dangriga and Punta Gorda Town, on the other hand, all experienced overall reductions in consumer prices.

Daysi Montero

Daysi Montero, Statistician II

“Let’s look at the Food and Non Alcoholic category which reported another consecutive increase of one percent for the month of July 2020 when compared to July 2019. This upward change was due to higher prices such as ground beef, chicken, natural milk, red kidney beans and eggs as well as fresh fruits and vegetables such as tomato, plantain and oranges. These higher prices were partially balanced by lower prices for other food item including beef steak, pigtail, pineapple and watermelon.  Looking at the graph you can clearly see that there was a spike in consumer price index from March 2020 to July 2020. This spike translates to a two point seven percent increase in prices within this category for the stated period.”

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