Cost of Living up!

The Statistical Institute of Belize has issued the Consumer Price Index or CPI for September 2013. Not surprisingly, for consumers who have been feeling the pinch, the statistics show that prices crept up by zero point eight percent higher than last September.  The cause is due to price increases in the categories of Transportation, Housing, Water, Electricity, Gas and Other Fuels as well as food. Food prices shot up by two point three percent, primarily in the price of beef rice and vegetables. But clothing and footwear declined by just under three percent. In respect of GDP Growth, the SIB says that in July through September, there was an expansion of zero point three percent of the economy. The low growth says the SIB during the three month period is due to the drain that agriculture and oil production continue to have on the economy. Banana production fell by six percent, but oil production fell to its lowest third-quarter level since 2009 and it appears that the trend will continue downwards.