Eight percent inflation proves cost of living is going way up

Cost of living is up. But just in case you weren’t sure about the inflation figures, a release from the Statistical Institute of Belize confirms an overall increase in price of goods and services. The Institute reports that the overall price level rose by point eight percent between May and August of this year. The rate of inflation reflects the increase in crude oil and butane prices and the continued upwards scale over the past months.

This has had a trickling effect on almost every other product and service. Gasoline and diesel prices were the highest at nine point two and twenty one point three percent respectively. The index also shows that all groups, except for the food and beverage groups recorded increases over the last quarter of this year. But the prices of fuel and butane were not the only ones to skyrocket, as the prices of onion, beans and tomatoes were also up.