Prices for food, dining and rentals have all increased!

Posted: Monday, August 5, 2024. 2:31 pm CST.

By Zoila Palma Gonzalez: The June 2024 report from the Statistical Institute of Belize (SIB) shows that consumer prices across the country saw an increase of 3.7% compared to the same period last year.

The rise in inflation was primarily driven by higher costs in food, restaurant services, and home rentals, while prices for liquefied petroleum gas (LPG) experienced a decline.

The inflation rate for the ‘Food and Non-Alcoholic Beverages’ category surged to 6.1%, largely due to a significant increase in food costs.

Within the ‘Food’ sub-category, prices were 6.3% higher in June 2024 compared to June 2023. The cost of essential food items saw considerable hikes, including:

Fresh Vegetables: Prices for tomatoes, cabbages, and onions increased by 17.8%.
Cereals and Bakery Products: Bread and other bakery items saw a 4.1% rise.
Fruits: The cost of grapefruits, oranges, limes, grapes, watermelons, and soursops went up by 8.9%.
Dairy Products: Natural and powdered milk prices increased by 4.6%.
Fish and Seafood: Prices surged by 14.4%.
Ready-Made Foods: Items such as soups, baby food, and salt rose by 5%.

The overall inflation trend reflects ongoing pressures on consumers, with the cost of living rising particularly in key areas like food and housing.

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