Food & Restaurant Services Up; Fuel Down

The Statistical Institute of Belize has shared the latest figures for September 2023. And if you’ve been paying more for a plate of food – whether home-cooked or takeout, guess what, the consumer price index for September is showing that food and restaurant services are up while fuel is down. In a nutshell, data show that the overall national inflation rate was four point two percent, with price levels across all categories of consumer goods and services up.  The release says that after several consecutive months of continuous deceleration in the overall rate at which prices were rising; September saw that trend halted, despite the fact that fuel prices remained lower than they were a year ago, and despite a slight slowdown in the rate of increase for food prices. The prices for food and non-alcoholic beverages rose by eleven point seven percent, while restaurants and accommodation services recorded an inflation rate of thirteen point seven percent. In terms of external trade, the S.I.B. says that imports are down by nine percent, while domestic exports were down by sixty-one point eight percent in September. Belize imported twenty point two million dollars less in commodities. These were particularly due to a decrease in mineral fuels and lubricants, chemical products and commercial free zones. Total domestic exports for the month of September amounted to twenty point seven million dollars, a decrease from thirty-three point five million when compared to exports for September 2022, which were valued at fifty-four point two million dollars.