Prices are going down according to the Statistical Institute of Belize. On average, Belizeans pay 1% less than they did at this time last year and about the same over the last four months. While prices have been trending up recently, figures for fuel prices reached historic lows in the last year, as Marilyn Pinelo-Lee explains.
“Fuel prices increased form April 2014 to April 2015. Premium decreased from $11.39 to $8.63 per gallon. Regular declines from $11.13 to $8.78 per gallon. While the highest decrease shows in diesel, down from $10.26 to $7.16 per gallon.”
Food declined a tenth of a percent, with lower prices seen in vegetables offset by meat prices. In the municipalities, the South of the country is paying more than anywhere else, mostly for transport and food and alcoholic beverages in Dangriga and rent in Punta Gorda. Transport costs reduced in Belize City leading to a decline in the inflation rate. Belize continues to do well in the region with lower inflation rates than our neighbors.