Consumer prices increase 4.9 percent, imports up 57.4 percent, and domestic exports up 74.8 percent in December 2021

The most recent data from the Statistical Institute of Belize's monthly Consumer Price Index (CPI) survey indicated that, for December 2021, the All-items CPI, which summarizes price levels across all categories of goods and services, stood at 105.7, an increase from 100.7 recorded for December 2020 (see Figure 1). This indicates that, for December 2021, the country experienced an overall national inflation rate1 of 4.9 percent on the cost of goods and services regularly purchased by Belizean households. This was primarily driven by higher prices for motor vehicle fuels, various food items, liquefied petroleum gas (LPG), restaurant services, and household cleaning products compared to the same month last year. Throughout 2021, consumer prices rose at an accelerating rate, peaking in November at 5.7 percent. Fuel, food, and LPG prices trended steadily upwards for most of the year, and, as a result, an annual inflation rate of 3.2 percent was recorded for the year 2021.

Click the following link to read more: Consumer Price Index, December 2021

Merchandise Trade

Belize's total imports for December 2021 were valued at $229.6 million. This was a significant increase of 57.4 percent or $83.7 million from imports of December 2020, which amounted to $145.9 million. Total merchandise imports for 2021 amounted to $2.1 billion, representing a 34.7 percent or $547 million increase from the $1.6 billion worth of goods imported during the twelve months of 2020.

Total domestic exports for December 2021 amounted to $37.1 million, up by a considerable 74.8 percent or $15.9 million compared to exports for December 2020, which were valued at $21.2 million. Merchandise exports for 2021 totaled $438 million, up 19.2 percent or $70.7 million from the $367.3 million exported during the twelve months of 2020.

Click the following link to read more: External Trade, December 2021