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Statistical Institute of Belize Releases Latest Numbers on Inflation

The Statistical Institute of Belize has reported that overall, consumer prices have risen by two point five percent in April 2021. The SIB says that fuel, LPG products, rent, and personal care products are all seeing an uptick while hotel accommodations and the prices of footwear are down. Inflation was highest in the food and non-alcoholic beverages category. The most notable increases were in fresh vegetables and fruit products, except for tomatoes which saw a sharp drop in prices compared to April last year. Significant increases were reported in citrus products – limes and oranges – along with onions, pineapples, potatoes, lettuce, pigtails, whole chickens, rice, natural milk, red kidney beans, and eggs. In transportation, fuel prices saw the highest levels recorded in over eight years but were partially offset by lower international airfares. A majority of items in the housing, water, electricity, gas, and other fuels category along with items under personal care, social protection, and miscellaneous goods and services have also seen increases. Meanwhile, the SIB reports that Belize imported goods valuing one hundred fifty-two point three million in April, a remarkable forty-eight point four percent increase in April last year. There were increases in mineral fuels & lubricants, machinery & transport equipment, beverages & tobacco, chemical products, crude materials, commercial-free zones, and other manufactured goods. However, there was a notable decrease in food and live animals by three million dollars. For the first four months of 2021, merchandise imports totaled five hundred ninety-eight point seven million dollars, a ten-point eight percent increase for the first four months of last year.