By Belize Live News Staff: The latest report from the Statistical Institute of Belize (SIB) reveals that consumer prices in Belize surged by 2.6% in September 2024 compared to the same month last year. The city of Belmopan saw the highest inflation increase among the areas surveyed, while Independence reported the lowest inflation rate, benefitting from below-average price rises.
The report, issued on October 30, highlights that Food and Non-Alcoholic Beverages were the primary drivers of inflation, with prices in this category increasing by 5.1%. Fresh vegetables rose by 8.3%, and fruits like grapefruits and limes surged by 15.7%. The Restaurants and Accommodation Services category experienced a notable increase of 4.9%, while Housing, Water, Electricity, Gas, and Other Fuels went up by 1.4%, mainly due to higher rental costs.
Compared to August, the month-over-month inflation rate in September showed only a slight increase of 0.02%. This was primarily driven by a 0.3% rise in the Food and Non-Alcoholic Beverages category. However, the Transport category saw a 0.4% decrease, attributed to lower fuel costs.
For the first nine months of 2024, Belize’s inflation rate reached 3.6%, with significant price hikes in Food and Non-Alcoholic Beverages, which increased by 6%, and Restaurants and Accommodation Services, which rose by 8.8%. The Housing category registered a 2.3% increase, while Personal Care costs went up by 4.8%. On the other hand, the Information and Communication sector recorded a decline of 1.8%.
