The June figures in respect to the cost of living were released by the Statistical Institute of Belize today and according to the release falling fuel prices and lowered international airfare contributed to a negative 0.8percent in consumer prices as compared to last year’s statistics.
The All-Items Consumer Price Index stood at 102.8, down from 103.6 in the same month last year. For the first six months of this year, an inflation rate of negative 0.9 percent was recorded. According to the report, the prices per gallon of all three types of fuel fell considerably in comparison to June 2014. Prices of premium and regular gasoline were both down by about 18 percent, while diesel recorded the most marked decline amongst them, falling by about 25 percent. Similarly, international airfares were down by almost 25 percent compared to June of last year. On average, food prices declined marginally by 0.1 percent when compared to last year June statistics.
The most significant drop was recorded in the prices of Red Kidney beans, which declined by more than one third compared to 12 months ago. This was offset by increased prices in both pork and beef products. Within the category of ‘Housing, Water, Electricity, Gas and Other Fuels’, Liquefied Petroleum Gas continues to record lower prices for this year, falling from $115.75 in June 2014 to $109.91 in June 2015. Electricity tariffs, which were decreased in January of this year, were almost 9 percent lower than in June of last year. Dangriga was the only municipality to record an increase in consumer prices, with an inflation rate of 1.9 percent for the month, while Belmopan had the greatest decrease on average, recording inflation of negative 1.8 percent during the month. In Orange Walk, figures show we have been paying less, a negative 0.3 percent as compared to last year.
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