Inflation Continues to Rise in Belize

It doesn’t take a statistician to know that the cost of goods and services has been going up countrywide, but today the Statistical Institute of Belize shared data detailing the specifics. The SIB’s latest Consumer Price Index, which measured inflation for the period January to October 2024, shows that Belizeans paid an average of 3.5 percent more for goods and services when compared to the same period last year. Food prices continued to be the major contributor to inflation, followed by restaurant and accommodation services. Belizeans also paid more rent and utilities. Jaime Crismo, Statistician 2 with the SIB, explained that consumer prices were highest in Belmopan during the survey period. 

Crismo noted that several other countries in the region still have higher inflation rates than Belize, including Mexico with 4.8 percent and Honduras with 4.7 percent.