Cost of Living Rises in Belize: SIB Reports 4.3% Increase in Consumer Price Index

The cost of living continues to climb while import expenditures and export revenues for last month were lower than they were last year, according to the Statistical Institute of Belize. The SIB issued its latest Consumer Price Index (CPI) this week which monitors price changes for a standard set of goods and services. According to the SIB, the cost of the items in its CPI basket were an average of four-point three percent higher in the month of October this year than they were in October 2022. Jefte Ochaeta, Statistician One with the SIB, explained some of the data findings.

The SIB also released its External Trade Bulletin, which looks at both import expenses and export earnings. Ochaeta explained that imports were down a little, while exports were down by a lot.

The SIB is preparing to update its CPI basket in 2025, which Ochaeta says will give a clearer picture of the items that households are commonly purchasing.