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Joined: Oct 1999
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Marty Offline OP
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Consumer prices increase 6.7 percent, both imports and domestic exports up 19.8 percent and 112.5 percent respectively in June 2022

Results from the Statistical Institute of Belize's most recent monthly Consumer Price Index (CPI) survey showed that, for June 2022, the All-Items CPI, which summarizes price levels across all categories of goods and services, stood at 110.5, up from 103.5 in June of 2021. This indicates that consumers experienced an overall national inflation rate1 of 6.7 percent on those goods and services most typically purchased by Belizean households. This was mainly due to higher prices for motor vehicle fuels, transportation services, food, liquefied petroleum gas (LPG), restaurant services, entrance fee to cinemas, and household cleaning products.

Click the following link to read more: Consumer Price Index, June 2022

Merchandise Trade

Belize's total imports for June 2022 were valued at $226.6 million. This represented a significant increase of 19.8 percent or $37.4 million from imports for June 2021, which totaled $189.3 million. Merchandise imports for the first six months of this year, January to June 2022, amounted to $1.326 billion, representing a 39.6 percent or $376.4 million increase from the $949.5 million worth of goods imported during the same period last year.

Total domestic exports for June 2022 amounted to $59.7 million, an increase of 112.5 percent or $31.2 million compared to exports for June 2021, which were valued at $28.1 million. Exports for the period January to June 2022 totaled $251.8 million, up 25.9 percent or $51.9 million from the same period last year, when earnings from domestic exports totaled $200 million.

Click the following link to read more: External Trade, June 2022

Joined: Oct 1999
Posts: 84,400
Marty Offline OP
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Inflation Up Again: Transport and Food Prices Are Drivers

Inflation continues on a 14 year high with June registering a 6.7% inflation rate - smilier to May's 6.6%. These highs have not been seen since 2008.

So what's driving prices up? Well, the Statistical Institute of Belize says this was mainly due to higher prices for fuel, transportation, food, butane, and household cleaning products.

Inflation was at almost 20% in the the 'Transport' category, where fuel prices, which were up by 27.7 percent on average, compared to June of last year. There were higher bus fares, taxi fares, and sea fares across the country. Food prices were up by by 7.6 percent in June including high prices for rice, flour and bread; meats - including poultry, beef, and pork; cooking oils; fresh produce, including watermelons, cabbages, and Irish potatoes; and dairy products, such as natural milk and eggs. Cabbage was up by 60% and pigtail was up by 40%.

Prices were down for some food items, however, including fresh produce such as tomatoes, bananas, oranges, sweet peppers, black beans, and red kidney beans.

Which municipality saw the most inflation? Well, Orange Walk Town experienced the highest rate of increase in consumer prices for June 2022, with an inflation rate of 9.6 percent. Consumers in this northern town saw above- average increases in prices for food items, home rental costs, restaurant services, laundry products, soaps, detergents, women's clothing, and men's and women's haircuts.

On the other side of that, the southern village of Independence recorded the lowest inflation rate at 5.1 percent, as consumers in this town saw lower than average increases in prices for food items and restaurant services.

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