Screen_Shot_2016-02-25_at_6.53.56_PMThe prices of goods and services purchased by Belizean households increased marginally, by an average of 0.4 percent, during the month of January 2016, according to the latest release issued by the Statistical Institute of Belize.

SIB’s latest statistics show that the all items Consumer Price Index stood at 103.2, up from 102.7 in January 2015. If we look at the Transport category, the report shows prices dropped by 3.3 percent despite an increase in the sub-category of Fuel.

The average price of premium gasoline was up by 15.4 percent when compared to the same month last year, while regular was 7.7 percent higher. Diesel however, saw a decrease in its average price per gallon, declining by 9 percent during the period.

Within the “Food & Non-Alcoholic Beverages” category, the prices of food items saw an overall increase of 1.8 percent for January 2016. Higher prices were observed across all types of meats, eggs, fresh fruits, sugar and vegetables. Prices for Red Kidney beans, however, remained well below what they were in January of 2015, decreasing by 24.3 percent.

In the case of Liquid Petroleum, the average price of a 100-pound cylinder fell by over $20 from $105 in January 2015 to $84 in January 2016. Across the seven municipalities, Dangriga continued to record the highest inflation rate, with consumer prices rising on average by 4 percent as a result of this municipality having the highest increases in food and home rental prices. Belmopan, on the other hand, saw the greatest decline in consumer prices, with an inflation rate of negative 1.3 percent.

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