Screen_Shot_2016-07-27_at_8.07.02_PMThe Statistical Institute of Belize today published its latest statistics on prices and external trade for the country of Belize. First we take a look at the consumer price index for which the report shows that prices increased, on average by 0.9 percent for the month of June 2016 as it stood 103.7, compared to 102.8 in June 2015.

For the first half of this year, a year-to-date inflation rate of 0.5 percent was recorded.

Despite higher prices for both regular gasoline and diesel fuel during the month, the ‘Transport’ category saw an overall decline of 0.7 percent. The effect of these price increases was overshadowed by premium gasoline prices and international airfares, which remained lower than they were one year ago

Housing, Water, Electricity, Gas and Other Fuels’ recorded an overall increase of 1.6 percent, as home rental prices rose by more than 2 percent in comparison to June 2015. This was offset by lower electricity tariffs, which were down by 16 percent compared to last June, as well as a steep drop in Liquefied Petroleum Gas (LPG) prices, from $110 twelve months ago to $84 in June 2016.

Prices for ‘Food and Non-Alcoholic Beverages’, on average, were virtually unchanged when compared to the same period of last year. While higher prices were seen for fruits, beef, pork and sugar, decreases were recorded in the prices of eggs, chicken and fresh vegetables.

All municipalities recorded increases in consumer prices with the exception of Dangriga, which saw a marginal deflation of 0.1 percent as a result of lower food prices for the month of June. Corozal Town, Punta Gorda and Orange Walk Town recorded the highest inflation rates, with these municipalities having above average increases in fuel, food and home rental prices.

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