Central Bank Reports Slowing Inflation

Perhaps one of the most interesting piece of information coming out of today’s prescon with the Central Bank is the announcement that inflation is beginning to slow. Love News, through the Statistical Institute of Belize (SIB), has been reporting on the rising cost of goods and services, particularly food. Today, however, the Central Bank Governor Kareem Michael had good news, indicating that the cost of living may be improving. He noted that various factors have influenced the reduction, including issues in the shipping industry that are being sorted out.

Richard “Dickie” Bradley, Attorney: “So what has been going on in San Ignacio for the Cayo North Electoral area is that there have been lots of objections just about all those objections have fallen by the wayside, there are no merits to them, they are putting up objections to persons who are not even on the annual list they had registered previously. Except for one objector who is claiming he’s a street captain and that the person did not live at the address. So those voters are in jeopardy but late last night I understand that the voters have been contacted and they are going to appeal the decision that they are not to be on the list. That is basically what has transpired. As you know all across the country it would seem that the politicians are getting ready for elections next year and when I say next year I’m talking about November next year when it is constitutionally due. We go for five years, in America Donald Trump will go for four years. So any name that appears in any voters list as a new voter is going to be under heavy scrutiny that is the nature of that game.”

Michael stressed that he has full confidence in the data, which is provided by the SIB, but conceded that the Consumer Price Index (CPI) may need some revision. The last CPI issued by the SIB for the month of September showed that Belizeans paid an average of 2.6 percent more this year for goods and services when compared to the period last year.