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Gas prices driving up inflation rate

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The Statistical Institute of Belize released its latest figures for November which shows an increase of point nine percent in the prices of goods. The All-items Consumer Price Index went up from 104.2 in November 2016 to 105.2 in November 2017.  The category that recorded the largest inflation rate was transport with 6.3 percent increase, due to the rise in international airfares and prices within the ‘Fuels and Lubricants’ sub-category. In November 2016, a gallon of premium gasoline cost $10.11, in November 2017, the price increased by 19 percent making the new price $12.02. Regular gasoline also went up by 7.2 percent in November 2017, a gallon of regular gasoline cost $9.55 in November 2016, while that same gallon cost $10.23 in November 2017. There was also an increase of 4.5 percent in domestic bus fares. Housing, water, electricity, gas, and other fuels also saw an increase of 0.9 percent. However, food and non-alcoholic beverages saw a decrease of 0.6 percent and all other categories of goods and services saw a decrease of 0.1 percent.  For the month of November, Punta Gorda saw the highest increase in consumer prices with an inflation rate of 1.9 percent. Meanwhile, Orange Walk saw the lowest inflation rate for the month with a negative 0.1 percent.

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