The consumer price index - it may sound like a technical term but it's simply a measurement of the changes in the price of things you buy for your household. And now the figures for the first eight months of 2012 have been released by the Statistical Institute of Belize. They show an average inflation rate of 1.7%. Inflation was highest in Orange Walk and lowest in Punta Gorda.

As for the consumer price index - you'll see eon this graph that fuel is the spikey red line, food is the blue line and all other items is the green line.

The Consumer Price index in August rose slightly - about half a percentage point. This was caused by higher prices of "Food and Non- Alcoholic Beverages", "Health", "Recreation and Culture", and "Miscellaneous Goods and Services". Of interest is that the increase in the "Recreation and Culture" index reflected a 29.8% increase in the cost of admission to nightclubs.

While those went up, there were price decreases in "Furnishing, Household Equipment and Routine Household Maintenance", "Transport", "Education" and "Restaurants and Hotels".

The decline in the "Transport" index was due mostly to lower prices for international airfares. In the food category, Meat prices went up the most along with "Milk, Cheese and Eggs" while vegetable prices went down.

Channel 7