SIB Releases Recent Economic Stats

On the economic front, consumer prices were up by zero point two percent in June 2020, according to the latest bulletin published by the Statistic Institute of Belize. For the second consecutive month, food and non-alcoholic beverage category recorded a notable rise in prices, with an increase of one point four percent when compared to June 2019. The price for fresh vegetables increased rapidly over the last three months with tomatoes, cabbages, potatoes, onions, oranges, plantains, rice, and milk registering the highest increases. There were also modest increases in pork chops and poultry, while pineapples, watermelons, beef steak and pigtail recorded the lowest price increases.

In housing, water, electricity, gas and other fuels category prices increased by zero point five percent in June when compared to last year June. Home rental costs were up by one point one percent, with notable increases in Belize City, San Ignacio and Santa Elena Towns and Punta Gorda Town. The S.I.B. reports that the LPG prices were twenty point three percent lower than they were in June 2019, where the average cost of a one hundred pound cylinder of LPG fell by twenty-three dollars and forty cents. The ‘Transport’ category saw an overall decline of two point one percent which resulted largely from the considerably lower prices in the ‘Fuels and Lubricants’ sub-category.

Together, the remaining categories of goods and services recorded a minimal increase of zero point two percent in June compared to the same month in 2019. This was due mainly to the ‘Education’ category, which was two point eight percent higher than it was last June due to an increase in tuition fees.

On the external trade bulletin, the S.I.B. reports that imports are down by thirty-eight point four percent while domestic exports were up by forty one point one percent in June 2020. Imported goods were valued at one hundred and three point seven million dollars. Total domestic exports amounted to forty two point one million dollars, up by twelve point three million dollars from last June.

Channel 5