October 20, 2009     After declines for three consecutive quarters, the Consumer Price Index (CPI) published today by the Statistical Institute of Belize (SIB), shows that the overall price level rose by 0.8 percent between May and August 2009.  The modest turnaround in inflation largely reflects the relative volatility in crude oil prices and the continued upward movements in fuel prices over the past few months.

The cost of transportation continued to rise at a faster rate than other goods and services, increasing by 3.5 percent in the three month period.  The most significant increases were in gasoline and diesel prices, which rose by 9.2 percent and 21.3 percent respectively.  The rent, water, fuel and power group category edged upward largely due to higher butane and kerosene prices.

All groups, except for the food and beverages group, recorded increases when compared to the second quarter. The food and beverages index fell by 0.7 percent largely driven by strong declines in prices of rice and flour.  It is noteworthy that the prices of onion, beans and tomatoes were up by an average of 26.9 percent.

Up to August, consumer prices were 3.6 percent lower when compared to the same period of 2008.  A decline in pressure both from high energy and food prices helped to lower the index over the review period.

For further information, please contact the SIB Office in your district, visit our website at www.statisticsbelize.org.bz, email info@statisticsbelize.org.bz or call in at our headquarters on Constitution Drive, Belmopan.