By Benjamin Flowers
Belize holds the third lowest inflation rate in Central America for the month of February, according to the latest data produced by the Statistical Institute of Belize.
The SIB recently released its Consumer Price Index, which measures the fluctuation in prices of numerous commodities (inflation), showing that the country had an inflation rate of only -1.2 percent.
The second highest was El Salvador which had a -1.1 percent inflation rate, and the first was Panama, which had only – 0.4 percent inflation. The three countries are the only ones to have recorded negative inflation statistics for the month of February.
Nicaragua had the highest rate of inflation, at 5.3 percent. The data also showed the inflation rates for the United States and Mexico, which stood at 0.0 percent and 3.0 percent respectively.
The SIB’s annual data showed that since 2014, inflation while containing some spikes and lulls, has steadily been trending downwards in Belize.
In 2008 inflation stood at 6.4 percent, the highest figure recorded since 1996; while the lowest was recorded in 2009 at -1.1 percent.