SIB Issues Statistics on Consumer Price Index for March

The Statistical Institute of Belize released the latest stats on consumer price index and external trade for the month of March. According to SIB, consumer prices were down one percent last month; so when compared to March 2014, goods and services were one percent cheaper. Food prices also saw a drop, including eggs, red kidney beans and various fresh vegetables. Dangriga is the only town that recorded overall increase in consumer prices. The largest average drop was seen in Belmopan.  Transport is credited as the driving force of this overall decrease, with premium and regular gases, as well as diesel, down due to lower world market prices. The SIB reports that international airfare was also down eleven percent when compared to the same period of last year. The release also noted that the average price for LPG was down by thirty three dollars compared to a year ago.  In external trade, Belize’s imports for March increased by twelve point two million dollars compared to March 2014. Areas that saw the biggest increases include Machinery and Transport Equipment, as well as manufactured goods. In the release, the SIB says that domestic exports for March 2015 totaled almost fifty six million dollars, which represents almost ten percent growth increase compared to last March. During the month, sugar, citrus and banana exports all recorded marked growth.  On the other hand, marine products, which generally perform strongly, saw over three million dollars drop in export earnings, due to decreased farm shrimp sales. There were no shipments of crude petroleum for the month of March 2015.