Food Prices Surge Over Six Percent in June, SIB Reports

Food prices were up by more than six percent for the month of June according to the latest data released by the Statistical Institute of Belize (SIB). The latest consumer price index, which measures inflation, showed that Belizeans paid an average of six-point three percent more for food items in June than they did for the same month last year. The SIB says that the increase was primarily driven by higher prices of fresh vegetables, with the major items being tomatoes, cabbages, and onions. These items were up almost eighteen percent. Meanwhile, fruits, dairy products, meats, and even ready-made foods such as soups, and baby food also saw notable increases. The situation was made worse by increases in agriculture outputs. The SIB’s data also showed general inflation was up for the month with Belizeans paying an average of three-point seven percent more across the board for goods and services. We note that, in a recent interview, the Ministry of Agriculture, Food Security, and Enterprise said that the current food prices were “unprecedented”, and efforts were underway to develop interventions to support local farmers. The ministry attributed the rising cost of food prices to a combination of market scarcity due to the impacts of climate change as well as increased import prices of food items as well as agricultural inputs for farmers.