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Inflation was up 1% in August

The Statistical Institute of Belize released its latest figures for August, which shows an increase of one percent in the prices of goods. The All-items Consumer Price Index went up from 104.4 in August 2017 to 105.4 in August 2018. The category that recorded the largest inflation rate was transport with 2.7 percent increase, mainly due to the ‘Fuels and Lubricants’ sub-category. In August 2017, a gallon of premium gasoline cost $10.62, in August 2018, the price increased by 10.2 percent making the new price $11.71. Regular gasoline also went up by 12.7 percent in August 2018, from $9.79 in August 2017 to $11.03 in August 2018.  Diesel saw a 21.1 percent increase from $8.80 in August 2017 to $10.65 in August 2018. There was also an increase in international airfares, which were 5.6 percent higher than they were in August, 2017.  Housing, water, electricity, gas, and other fuels also saw an increase of 1.1 percent. However, food and non-alcoholic beverages saw a decrease of 0.6 percent and all other categories of goods and services saw an increase of 1.2 percent.  For the month of August, the twin towns of San Ignacio and Santa Elena saw the highest increase in consumer prices with an inflation rate of 2.9 percent. Dangriga saw the only decline, with an inflation rate of negative 2 percent for the month.