The All-Items consumer price index rose marginally to 103.6 in September 2014, increasing from 102.8 in the same month last year. The national inflation rate for the month was 0.7 percent, slightly lower than the 0.9 percent recorded in August of this year. For the first nine months of 2014, the overall inflation rate was 1.3 percent.

As was reported last month, the Food category recorded small price decreases across sub-categories. Most notably, prices for Breads and Cereals declined by 1.2 percent while vegetables, which had seen continuously rising prices since last year, were down by 2.1 percent.

Continuing the upward trend first recorded earlier this year, home rental prices were 2 percent higher than in September 2013. Increases for this item were recorded across all municipalities except Corozal Town. Insurance premiums were also higher in comparison to last September, with health and motor vehicle insurance up by 3.3 percent and 6.1 percent, respectively.

With an inflation rate of 1.5 percent, more than double the national inflation rate, San Ignacio/Santa Elena recorded the highest rate of price increase for the month. The lowest was in Corozal Town, where consumer prices rose by a negligible 0.2 percent compared to the same month last year.


Latest trade statistics released by the Statistical Institute of Belize show that for the month of September 2014, the total value of goods imported into Belize was $163.6 million, a 9.6 percent or $14.3 million increase from $149.3 in September of last year.

‘Mineral Fuels and Lubricants’ accounted for almost a half of the increase in the value of imported goods during the month, growing by more than $6 million to $25 million, mostly as a result of increased diesel imports. ‘Machinery and Transport Equipment’ rose from $30.8 million to $34.3 million due to higher imports of water pumps and motor vehicles. Increased purchases of lard and shortening, coffee, canned sausages and animal feed led to a $2.3 million growth in ‘Food and Live Animals’ for the month.

While the United States remained the country’s largest source for imported goods, Central America overtook China as the second largest, owing to increases in purchases of plastic pipes, butane, and fertilizer from that region. Curaçao was the third largest, due to higher fuel imports for the month.

For the nine-month period from January to September 2014, Belize’s total imports were valued at $1.5 billion, up 6.9 percent or $93.9 million when compared to the first nine months of 2013. Diesel and butane imports were major contributors to this increase, as were imports of motor vehicles for the transportation of goods and for personal transport. Goods destined for the Commercial Free Zones declined by over $29 million during the first nine months of this year, while those going to the Export Processing Zones rose by more than $21 million.

Here are S.I.B's latest releases:
September 2014 External Trade Bulletin,
September 2014 Consumer Price Index

Statistical Institute of Belize
1907 Constitution Drive
Belmopan, Belize