Listen Live On Our Live Stream or Tune To Our Frequencies: 88.3 FM | 88.9 FM | 94.7 FM | 95.1 FM | 98.1 FM | 98.5 FM

Consumer Prices Down 0.2%

Also coming out of the Statistical Institute of Belize, SIB, are the figures for the Consumer Price Index for the month of July.  This figure fell by 0.2 percent, which reflects a minimal deflation. Melvin Perez, Statistician 2, says the main contribution to the decline was transport.
Melvin Perez, Statistician: “Now looking at the four major categories that affected the inflation rate of -0.2% first we have the housing, water, electricity, gas and other fuel which had a decrease of 0.7%, followed by food and nonalcoholic beverages which had an increase by 1.2%. Then was transport which had a decrease of 3.9% then was transport which had a decrease of 3.9% and I must say that transport was the main category exerting downward pressure on the overall inflation rate. The remaining goods and services we grouped them into the ‘all other’ category of goods and services which had an increase of 0.4%. First let’s look at the housing, water, electricity, gas and other fuel which had a decrease of 0.7%; this decrease was mainly due to a decrease in home rental cost which went down by 1.2%. On the other hand, liquified petroleum gas went up by 1.1% and electricity tariffs also went up by 11.9% as the new rate applied earlier on the year continued to take effect.”
Perez pointed out that Punta Gorda Town experienced the highest rate of increases in consumer prices.
Melvin Perez, Statistician: “At the municipality level Punta Gorda Town received the highest monthly increase in consumer prices with an inflation rate of 2.5%. Consumers in this municipality saw above-average increases for food items, liquified petroleum gas, home rental cost and admission fees to night clubs. Now, on the other hand, we see Dangriga Town increase the lowest inflation rate with prices going down by 5%, consumers in this municipality experienced a significant decrease in home rental cost and outpatient medical services such as surgery costs and lab fees.”
As it relates to medical services, it is noteworthy to mention that where Dangriga is concerned some medical services were not available at the Southern Regional Hospital