Statistical Institute of Belize Releases Latest Figures

The Statistical Institute of Belize has released its latest figures for May, which was the second month of .of the corona virus lockdown.   According to the S.I.B. higher food and home rental costs balanced out by fuel and LPG prices resulted in no overall change in the consumer price index when compared to the same time last year.  However, this does not indicate that there were no changes in the prices of items. The Food and Non-alcoholic beverages saw a notable increase of one point one percent due primarily to the spike in prices for fresh produce. Consumers say a significant increase the price of potatoes, oranges, tomatoes, sweet peppers, onions and cabbages. Lesser increases were seen in the prices for rice and eggs. Orange Walk Town recorded the highest inflation rate at one point seven, while Punta Gorda Town experienced a deflation of two point three percent.  Imports in May decreased by thirty-nine point seven percent; domestic exports also decreased by zero point eight percent.  Imported goods also went down to one hundred and two million dollars, which is a drop of sixty-seven point three million dollars when compared to May 2019. Domestic exports for May 2020 amounted to thirty-seven million dollars, down by three hundred thousand dollars when compared to May 2019.  The United Kingdom was Belize’s biggest buyer for the month.