Posted: Thursday, May 1, 2025. 12:30 pm CST.
By Aaron Humes: Consumer prices in Belize saw an increase of 1.4% in March 2025, primarily propelled by rising food prices and home rental costs, according to the latest data released by the national statistics office.
The overall Consumer Price Index (CPI) for March 2025 rose to 119.7, up from 118.0 in March 2024. This translates to a national inflation rate of 1.4%, reflecting the economic pressures affecting households across the nation.
Key contributors to the inflationary trend include food prices, which increased by 2.5%, with significant spikes noted in specific categories. Cereal products rose by 3.3%, while fresh fruits saw a staggering increase of 11.6%. The non-alcoholic beverages sector also experienced a notable inflation rate of 7.9%, driven largely by significant price hikes for fruit juices (15.4%) and purified water (9.2%).
The housing sector reported a category inflation of 1.9%, largely impacted by rising home rental costs. Natural gas prices also saw an increase, with the cost of Liquefied Petroleum Gas (LPG) rising from $122.61 to $127.53, an increase of $4.91.
In contrast, the transport sector witnessed a decrease of 2% in its category inflation, thanks to reduced fuel prices. Premium gasoline fell by $0.57, regular gasoline decreased by $0.85, and diesel prices dropped by $0.91, providing some relief to consumers.
The monthly data for March shows a negligible month-over-month decrease of 0.1% compared to February 2025, with food non-alcoholic beverages and transport categories reporting reductions of 0.2% and 0.3%, respectively.
Among municipalities, Belmopan City experienced the highest inflation rate at 3.8%, while San Pedro Town followed closely with a 3.6% inflation rate. Conversely, Independence Village was the only municipality to report a price decrease of -1.3%.
Year-to-date figures for the first three months of 2025 indicate an inflation rate of 1.7%, with food non-alcoholic beverages and housing costs being the main contributors to this uptick.
As households continue to grapple with rising costs, officials urge consumers to remain vigilant and plan their budgets accordingly amidst the ongoing economic shifts.
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