June 2020 Merchandise Trade & Consumer Price Index

Posted By: Marty

June 2020 Merchandise Trade & Consumer Price Index - 07/30/20 01:01 AM

Consumer Price Index up 0.2%, imports down 38.4% and domestic exports up 41.1% in June 2020

Consumer Price Index

The Statistical Institute of Belize’s latest figures on consumer prices showed that, for the month of June 2020, the national inflation rate stood at 0.2 percent. The All-Items Consumer Price Index (CPI) increased marginally from 105.1 in June 2019 to 105.3 in June 2020. This minimal overall change in comparison to June of 2019 was the net effect of rising costs for home rentals and various food items being counteracted by considerable reductions in prices for fuel and Liquefied Petroleum Gas (LPG). The first six months of 2020 saw a year-to-date inflation of 0.2 percent, when compared to the same period last year.

Click the following link to read more: Consumer Price Index, June 2020

Merchandise Trade

In June 2020, Belize imported goods valuing $103.7 million. This represented a dramatic decrease of 38.4 percent or $64.8 million from the same month last year. Merchandise imports for the first six months of this year, January to June 2020, amounted to $793.7 million, representing a 15.6 percent or $146.6 million decrease from the same period last year.

Total domestic exports for the month of June 2020 amounted to $42.1 million, up considerably by 41.1 percent or $12.3 million from the $29.8 million recorded for June of 2019. Merchandise exports for the period January to June 2020 totaled $191.4 million, down 7.8 percent or $16.1 million, from that same period last year.

Click the following link to read more: External Trade, June 2020

Posted By: Marty

Re: June 2020 Merchandise Trade & Consumer Price Index - 07/30/20 12:01 PM

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.

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