SIB Releases September Statistics for Consumer Price Index

The Consumer Price Index for September 2014 has been released by the Statistical Institute of Belize.  The CPI, as it is known, indicates a marginal increase from the same month last year.  The inflation rate was point seven percent, while in the food category bread and cereals declined by one point two percent.  Vegetables, in contrast, were down by two point one percent following a continuous spike since last year.  With an inflation rate of one point five percent, the twin towns of San Ignacio and Santa Elena recorded the highest rate of price increase for September.  The lowest was registered in Corozal where consumer prices rose by a nominal point two percent.  As it relates to imports, the total value of goods brought into the country was a hundred and sixty-three point six million dollars, up by almost fifteen millions dollars during the same period in 2013.  The increase in the value of imported goods is partly attributed to the importation of mineral fuels and lubricants which grew to twenty-five million dollars, primarily because of increased diesel imports.  Meanwhile domestic exports fell by one-third, from thirty-nine point three million dollars to twenty-six point nine million dollars compared to last September.  This was largely due to the fact that there were no shipments of crude petroleum, resulting in a fourteen million dollar decrease in exports to the United States.  Exports for the year have amounted to four hundred and ninety-one million dollars, down from five hundred and thirty-eight million for the first nine months of 2013, according to the SIB report.