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Consumer Price Index up 0.1 Percent for 2018 Fourth Quarter

The Consumer Price Index (CPI) is one section that is of particular interest to the public. The CPI  is up 0.1 percent mainly due to a 0.8 percent increase in the “all other categories of goods and services” section and a 0.3 percent increase in the “food and non-alcoholic beverages” section of the statistics. However, transportation costs were down -1.2 percent and the “housing, water, electricity, gas and other fuels category” was also down by -0.4 percent for the same period. The decrease in transport was due to a decrease in cost of fuel and lubricants.  The 0.8 percent increase in the all other categories was due to higher fees for secondary education, health and motor vehicle insurance premiums, and entrance fees to sporting events. The Deputy Director General also commented on the state of the economy, two areas of concern continue to be the replenishment of the shrimp industry and the decline of petroleum industry which continues to search for new reserves.

Among the countries municipalities, Punta GOrda Town experienced the highest monthly increase in consumer prices, with an inflation rate of 3.4 percent when compared to February 2018. Consumers in PG saw above average in food prices, hospital room accommodations doctor consultation fees and home rental costs. On the other hand, Dangriga Town experienced the lowest inflation rate, with prices going down by six percent compared to February of last year as consumers in this municipality saw a greater than average reduction in home rental costs.

 

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