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SIB records very small decrease in the prices of household goods

There was a mere minimal decrease in the prices of goods and services for the month of November, according to the Statistical Institute of Belize. Belizean households experienced a 0.02 percent decrease, as higher prices for home rentals, doctor consultations, and Liquefied Petroleum Gas (LPG) were balanced out by lower transport costs when compared to last November. For the first eleven months of the year, the cumulative inflation rate stood at 0.3 percent. A breakdown shows that prices in the ‘Housing, Water, Electricity, Gas and Other Fuels’ category saw an overall increase of 1.6 percent for the month of November 2018. The ‘Transport’ category saw prices go down by 4.5 percent when compared to November 2017. It was the principal category exerting downward pressure on consumer prices during the month. Although rising fuel prices have been a major contributor to the upwards trend in this category during most of the year, for the month of November 2018 these were offset by a significant decline in international airfares. By district, Punta Gorda Town experienced the highest rate of increase in consumer prices in November with 1.9 percent. Dangriga Town experienced the lowest inflation rate, with prices going down by 2.2 percent, as consumers in this town saw food prices go down by slightly more than the national average.