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Screen_Shot_2016-04-27_at_4.47.53_PMThe Statistical Institute of Belize today published its latest statistics on prices and external trade for the country of Belize. If we take a look at the consumer price index, the report shows that prices increased, on average, by 0.1 percent for the month of March 2016 as it stood at stood at 102.9, compared to 102.7 in March 2015.

The increase in prices is a trend observed since January 2016 but for the first quarter of this year inflation rate is slowly decreasing from a high of 0.4 percent in January.

The Food category recorded an increase of 1.6 percent largely due to a 4.4% increase in fruits, 8.2% in eggs, sugar 29.5% beef and veal 16.5% and pork 5.5%. On the other hand, red kidney beans continued to reflect a decrease of 14.5 percent.

As for the transport sector, a 4.7 percent decrease was recorded as the as the prices of regular and diesel gasoline decreased by 0.9 percent and 6.2 percent respectively, while premium gasoline increased by 1.8 percent. The “Housing, Water, Electricity, Gas and Other Fuels” category increased marginally by 0.1 percent.

Across the seven municipalities, Corozal and Punta Gorda recorded the highest inflation rate of 1.7 percent and 1.3 percent, respectively, while both San Ignacio/Santa Elena and Belize City stood at negative 0.3 percent. Over the first quarter, Corozal reported an increase from 1.0 percent in January to 1.5 percent in February. Punta Gorda’s inflation rate is basically constant over the first 3 months of 2016 while Dangriga boasts the lowest inflation rate of negative 1.0 percent a downward trend from 4.0 percent in January and negative 0.9 in February.

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