Some Basic Goods Skyrocket in Price Since 1990

If you have been trying to explain to younger people that a dollar seemed to stretch further or things were simply less expensive “back in the day,” and they didn’t believe you, well now you have some evidence to back up your stories.  Figures shared by the Statistical Institute of Belize today showed that since November of 1990 to October of this year, the same basket of goods almost doubled in cost. Statistician at the Institute, Melvin Perez used an example of the rate of inflation from decade to decade.

Melvin Perez, Statistician, SIB

Melvin Perez

“If the basket of goods and services cost one hundred dollars in October of 2020, which is our base period, this same basket in November of 1990 would have cost sixty-two dollars. Ten years after, in November of 2000, the same basket of goods and services would have cost seventy-four dollars. Ten years after in November of 2010, the basket would have cost ninety-four dollars and forty cents. Now ten years after in November of 2020, the same basket of goods and services would have cost one hundred dollars and forty cents. And in October of 2021, the basket would have cost one hundred five dollars and twenty cents.”