Food items more expensive, says SIB

By Benjamin Flowers
Staff Reporter

Food items are some 0.2 percent more expensive when compared to last year, the latest data from the Statistical Institute of Belize reveals
The SIB released the Consumer Price Index, which measures the fluctuation of prices for goods and services in all sectors of the economy, on Wednesday pointed to a rise in food prices, but overall reductions in the cost of living.

Meat products ranked among the highest in items which increased, especially pigtail which had the highest increase of 54.2 percent).
Ground beef continues to rise, going up from $4.09 to $6.51 a pound, an increase of 30.5 per-cent, while red kidney beans recorded the highest reduction in price, falling from $2.31 to $1.47.
Transport saw the greatest drop in prices, – 6.3 percent, which the SIB attributes to falling fuel prices.

“All three types of fuel saw a considerable drop in prices compared to August 2014, with premium and regular gasoline prices down by about 19 percent and 22 percent respectively, while diesel prices fell sharply by 28 percent”, the SIB noted.

By municipality, San Ignacio had the greatest price reduction, 1.5 percent, while Dangriga Town had the highest increase, 0.9 percent.
The Consumer Price Index measured the prices in August 2015, and compared them to the same period in 2014.

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