The Statistical Institute of Belize issued its most recent figures on consumer prices and external trade for Belize throughout the month of September. We begin by taking a look at the statistics for Consumer Price Index (CPI) which illustrates that in comparison to September of last year there was an increase of 0.7 percent in the average cost of goods and services regularly purchased by households this year. The All-Items CPI for September 2017 stood at 104.4 compared to August of 2016 which stood at 103.7. (CPI fig 1)
For the first nine months of 2017, an inflation rate of 1.2 percent was recorded.
The transport category saw an increase of 6.6 percent, sighting the sector as the major contributing factor in the overall rise in consumer prices for the month of August.
The prices for fuel rose by 5 percent in which Premium gasoline saw the highest growth from $9.63 in September 2016 to $11.17 in September 2017, Regular gasoline rose from $9.35 to $10.38, while diesel went up from $8.18 to $9.40. CPI fig 2
Across the seven municipalities, Dangriga continued to experience the highest rate of increase in consumer prices. This municipality, which saw the most significant increase in home rental prices, recorded a 2.3 percent inflation rate. Orange Walk Town, where average rent prices were down compared to last September, recorded the lowest inflation rate at negative 0.8 percent, while Belmopan also recorded an overall decline in consumer prices of 0.2 percent. (CPI FIG 3)