by William Ysaguirre
BELIZE CITY, Thurs. Jan. 23, 2025
Food prices went up 2.9 percent, and non-alcoholic beverages by 7.7 percent last November, which accounted for nearly half the increase in the cost of living, driving a national inflation rate to 2.0 percent, when compared to November 2023, as the Statistics Institute of Belize (SIB) reported Wednesday evening, January 22.
The SIB calculated that the monthly Consumer Price Index (CPI) had increased to 120.1 in November, based on the average price of several commodities, and this is 2.0 percent more than the 117.7 index reported the year before. Other price increases driving this inflation were higher costs for restaurant services and home rentals, while lower prices on fuel and information and communication equipment somewhat softened the increase.
The price of cooking gas went up 4.8 percent, to $123.97 for a 100-pound cylinder in November, up from $118.26 a year ago. Fuel prices for motor vehicles fell, as premium gas fell to $13.45/gallon in November – 2.2 percent less than $13.76/gallon a year ago. Diesel was down $1.13 per gallon to $12.08/gal, and regular gasoline also went down by 71 cents to $12.02/gal. This resulted in a 0.8 percent reduction in the cost of transportation.
Food costs 2.9 percent more, and the price on fruit and vegetable juices increased by 14.3 percent. Five gallons of purified water cost 8.9 percent more, and soft drink prices went up 7.1 percent. Fresh fruits such as pineapples, watermelons and limes went up 14.7 percent, while fresh vegetables: carrots, onions, corn on the cob and red kidney beans and black beans rose 3.4 percent in price. Flour products went up, with a 16oz loaf of white bread costing $2.11, 14.6 percent more than the $1.84 it cost in November 2023; while flour tortillas went up not so much, only by 1.5 percent on a pack of 5 tortillas. A pack of 8 hot dog buns increased by 5.1 percent to $2.91.
Fresh vegetables went up, as cabbages jumped 30.5 percent to $3.02/lb. Other vegetable prices fell, as tomatoes dropped 4.6 percent to $3.91/lb, celery was 5.2 percent less at $5.29/lb., sweet potatoes cost 2.7 percent less at $3.13/lb, but Irish potatoes rose 8.4 percent to $3.23/lb. Powdered milk increased 6.0 percent to $9.00 for 360 grams.
All meats went up, with various chicken parts averaging a 0.7 percent increase, and whole fish went up 1.2 percent to 9.14/lb. Ground beef rose 5.1 percent to $7.42/lb, while beef steak increased marginally by 1.7 percent to $10.28/lb. Sausage increased by 4.9 percent. Sugar dropped 8.7 percent to 79 cents per pound.
Across the nation, Corozal and Belmopan saw the largest increases in the cost of living, by 4 percent; in San Pedro prices went up 3.2 percent; while Belize City, a 1.1 percent increase, and Independence Village, a 0.01 percent decrease, were the lowest.