Screen_Shot_2016-01-27_at_8.04.58_PMThe Statistical Institute of Belize today published its latest statistics on prices and external trade for the country of Belize. When it comes to the Consumer Price Index, the report shows that during the month of December 2015, consumer prices declined, on average, by 0.7% from 103.5 recorded in December 2014. For the year 2015, the average national inflation rate was negative 0.9 percent. During the month of December 2015, the average price per gallon of all three types of fuels remained lower than they were in December 2014. The price of premium gasoline was down by about 10 percent, while that of regular gasoline was 16 percent lower. Diesel fuel was more than 24 percent lower than it was in the same month of 2014. These decreases, combined with a drop of more than one third in international airfares, resulted in an overall decline of more than 8 percent in the “Transport” category when compared to December 2014.

As for food prices, statistics show that when compared to December 2014 there was no change. Although price increases were seen across all types of meats, says SIB, these were offset by lower prices for Red Kidney Beans and various fresh vegetables, including carrots and onions.

Looking at the areas of Housing, Water, Electricity, Gas and Other Fuels, an increase of 2.2 percent in home rental prices overshadowed a 20 percent decline in electricity rates and a steep drop in the price of Liquefied Petroleum Gas. In the case of butane, the average price for a 100 pound cylinder fell from $109.26 in December 2014 to $83.88 in December 2015, a decline of 23 percent.

While most municipalities recorded decreases in consumer prices during the month, Dangriga and Punta Gorda had inflation rates of 2.7 percent and 1.0 percent, respectively. On the other hand, the largest decline was recorded in Belmopan, which had an inflation rate of negative 2.9 percent, largely due to lower prices recorded for food and home rental costs.

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