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May 31, 2023

Lowest Overall National Inflation Rate since Early 2021 Recorded in April 2023

Consumer prices are up by four point six percent in April, according to the Statistical Institute of Belize. S.I.B. says this is the lowest overall national inflation rate recorded since early 2021. But, food prices are still considerably higher than they were during the same month last year. In fact, according to S.I.B., the food and non-alcoholic beverages category accounted for the quarters of the national inflation rate for the month of April. The only other category that contributed significantly to the overall rise in consumer prices was restaurants and accommodations services. According to S.I.B., there is a continued upward trend in prices for restaurant and café services, coupled with higher hotel accommodation rates that contributed to an inflation rate of ten point four percent. Transport is usually the second major contributor to rising consumer prices. But in April, transport had a negligible impact on inflation as average prices for fuel fell slightly below the levels recorded in April last year. The price of premium gasoline fell nineteen cents. The price of regular gasoline fell by eighty four cents, while the cost of diesel fell by one dollar and ten cents.

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