The Statistical Institute of Belize (SIB) reported Thursday, September 2, that consumer prices were up by 1.8% at the last report in May 2010, compared to the same time last year.
“The significant increase was due largely to a sharp rise in fuel prices, particularly gas and diesel, which rose by 25.3% and 37.5%, respectively,” said the report. “This drove a 10.1% increase in the transportation and communication category, a considerable escalation when compared to the 9.6% reduction noted in the same period last year.”
Butane prices have also been putting a hurting on consumers, having increased 28.1%.
The report said that whereas prices for rent, water, fuel and power had decreased 3.9% in May 2009, they were 4.6% higher in May 2010.
The SIB claims that these increases have been offset by declines in food prices, which, they said, fell by 2.5% in the Food, Beverages and Tobacco category. Prices reported rose 3.3% in May 2009.
SIB says, “This was due to marked decreases in the cost of basic food items, including red kidney beans, rice, flour, cooking oil, eggs and powdered milk, which recorded price reductions between 10% and 18%.”
The report says that there were also declines in the prices in the Household Goods and Maintenance category, but prices in the Clothing and Footwear, Medical Care and Personal Care category increased.