PM Clarifies Inflation Rate is up from 2020

During his State of the Nation address earlier this week, Prime Minister John Briceño highlighted the decreased inflation rate as one of the successes of his administration. He said inflation has fallen from six-point-three percent to three-point-eight percent since 2022. However, in response, Belize City residents claim that they have not observed the decrease and complained about the high cost of living. We asked the Prime Minister for a response to these complaints. Here was his response.

 

Britney Gordon

“And some people do not agree that inflation is down though, sir, a lot of people, I know you mentioned this, but what can you say to those people that are disputing that?”

 

Prime Minister John Briceño

“I understand what they’re saying. The prices indeed have gone up from 2020, but when you look at the rate of inflation, you compare it to the previous year, not to 2020. Last year, the inflation rate was over four percent and now it’s down to about three percent. About 3 percent of last year, not of 2020. So yes, the prices are still high, and we’re hoping that with time and competition, that the prices are going to come down even more. The issue of price gouging it exists and wherever we find that we try to act as best as we possibly can.”