General / Social / Weekend News

Inflation remains in negative for first quarter 2015

By Benjamin Flowers, Staff Reporter

The cost of living has been incrementally decreasing since the first quarter of 2015, according to the statistical Institute of Belize.

The SIB’s latest instalment of the consumer price index, which measures the price change of various goods, services and amenities, shows that for the months of January to March the price of goods remained between one and 1.2 percent cheaper than when compared to the same period last year.

The SIB attributed much of thecprice drops to decreasing fuel prices and transportation, as well as lower rates for amenities, such as light and water. Food and vegetable prices have also been consistently low since the first quarter, with the all items section of the CPI, which measures the price change for food items, has also remained between one and 1.2 percent.

For the month of March, SIB reported that “food prices saw an average decrease of 0.8 percent, driven by lower prices for eggs, Red Kidney beans, and various fresh vegetables, including cabbage, onions, and carrots.”

Assessing inflation by municipality, western Belize has again seen the greatest price drops, With Belmopan recording decreases of 1.8 percent. Punta Gorda, which was the only municipality to record an inflation increase in February, has since seen a decrease of 0.4 percent when compared to last March. However Dangriga has now seen an increase of 0.7 percent.

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