By Belize Live News Staff: Belizean households are feeling the squeeze, as new figures show that the cost of living has risen over the past year, with fuel prices leading the charge.
According to data from the Statistical Institute of Belize, presented by Statistician Jaime Crespo, inflation reached 4.3 percent as of May 2026. While inflation had been easing since peaking at 7.4 percent in mid 2022, it has turned upward again over the first five months of this year.
For everyday Belizeans, the clearest sign of the pinch is in what they pay at the pump and in their homes. Crespo explained that, comparing the first five months of 2026 with the same stretch in 2025, the cost of goods and services bought by households climbed by 2 percent on average, with increases showing up across nearly all major spending categories.
Transport costs were the biggest driver, rising 3.5 percent on the back of higher fuel prices. The cost of a gallon of regular fuel jumped by 7.1 percent, premium edged up 2.2 percent, and diesel surged by 11.1 percent. Since fuel touches almost every part of the economy, from the cost of getting to work to the price of goods on store shelves, those increases tend to be felt widely.
Households also paid more to keep the lights on. The category covering housing, water, electricity, gas and other fuels rose by 1.5 percent, which Crespo linked mainly to an increase in electricity costs introduced at the start of the year.
Perhaps unsurprisingly, the mood among consumers has dipped. The data showed that consumer confidence dropped by 6.2 percent in May 2026, suggesting that many Belizeans are growing more cautious as prices continue to rise.
As the cost of living remains a pressing concern, families across the country will be hoping for some relief in the months ahead.
