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 a decrease of 0.1 percent in the average cost of goods and services this year. The All-Items CPI for September 2019 stood at 105.3 compared to September 2018 which stood at 105.4.
For the first nine months of 2019, an inflation rate of 0.2 percent was recorded when compared to 2018.
The transport category saw an overall decrease of 2.2 percent, sighting the sector as the major contributing factor in the overall fall in consumer prices for the month of September.
This was mainly due to lower prices in the ‘Fuels and Lubricants’ sub-category, as all fuel types recorded decreases in comparison to September of last year. At the pump, the average price per gallon of Premium gasoline went down 2.9 percent in September 2019, Regular gasoline declined by 7.9 percent, while the price per gallon of Diesel fell by 5.1 percent.
The ‘Food and Non-Alcoholic Beverages’ category on the other hand saw an overall increase of 0.8 percent when compared to September 2018 Higher prices were recorded for several meat products, including beef steak, pigtail and whole chicken. Additionally, higher prices for pineapples, sweet peppers, onions, tomatoes and cabbages contributed to the overall increase in this category. The effect of these higher prices were, however, partly offset by decreased prices in items such as ground beef, pork chops, red kidney beans and watermelons.