2016 Concludes with Higher Prices, Lower Trade

The Statistical Institute of Belize has released figures for December 2016.  From that information, it comes as no surprise that consumer prices were up by one point one percent.  That figure is compared to the same period in 2015.  The transport index increased by nine point nine percent and remained the key contributor to the mounting inflation rate.  Fuel prices went up by fifteen point five percent, with diesel recording the highest upturn of thirty-five point nine percent when compared to December 2015.  The spike in the cost of public transportation in October of last year continues to impact the overall transport index.  The highest inflation rates for December were recorded in Orange Walk Town and Belmopan.  Both municipalities registered the largest increases in the transport category and in home rental prices, with two point eight and two point seven percent, respectively.  The External Trade Bulletin indicates that imports were down by three point two percent, while exports plummeted by ten point seven percent in December 2016.