Stats in 2008 show major increases in cost of living

It comes as no surprise, but recently released figures from the Statistical Institute of Belize reveals that in 2008 prices shot up where it hurts the most: food and medical care.

According to S.I.B., last year consumers paid 50% more for flour, 35% more for rice, and about 16% more for chicken.

The increases represent a whopping average of 6.4%, the highest rate of inflation in the last 12 years.

In other sectors, beverages and tobacco prices shot up by 13.3%, the highest increase in these items in the past 25 years. Consumers also experienced a 3% increase in medical care and an increase of 3.6% in rent, water, fuel, and power.

Clothing, footwear, recreation, education and culture did not show much movement.

And while the fall in crude oil prices internationally resulted in lower prices at the pump in the last quarter, there was still a resulting overall increase of 3.6% in the transport and communications category.

Statistical Institute of Belize News Headlines [click on links below]:
2008 Annual Consumer Price Index
Belize’s Economy Rebounded by 8.2% in Third Quarter of 2008
2006 Multiple Indicator Cluster Survey
Latest Inflation Information

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