Posted: Wednesday, March 26, 2025. 8:40 pm CST.
By Aaron Humes: The Statistical Institute of Belize has released its monthly press statement, revealing that the national inflation rate for February 2025 has reached 1.6 percent.
The report indicates that the primary contributors to this inflation are the categories of Food and Non-Alcoholic Beverages and Housing, Water, Electricity, Gas and Other Fuels, which together accounted for approximately two-thirds of the overall rise in consumer prices.
Food prices surged by 2.5 percent compared to the same month last year, primarily driven by increased costs for cereal products, fruits, and various drink items including purified water and soft drinks. Meanwhile, the Housing, Water, Electricity, Gas and Other Fuels category saw a 2 percent rise largely due to escalating home rental costs and higher prices for liquefied petroleum gas (LPG).
Additionally, several other categories recorded significant price increases. Personal Care, Social Protection, and Miscellaneous Goods and Services rose by 3.3 percent mainly due to higher personal hygiene product costs. Furnishings, Household Equipment, and Routine Household Maintenance ticked up by 2.2 percent, fueled by higher prices for domestic services. Meanwhile, Clothing and Footwear witnessed a 2.2 percent increase, attributed to higher prices for garments and men’s footwear. Furthermore, Alcoholic Beverages, Tobacco and Narcotics experienced a 2.4 percent rise, reflecting higher cigarette prices, and ‘Restaurants and Accommodation Services’ rose by 1.3 percent.
In contrast, one category saw a decline in prices: Information and Communication services dropped by 1.7 percent, owing to lower costs for mobile phone equipment.
As the inflation rate remains a crucial economic indicator, the government and citizens will be keeping a close eye on these trends in the upcoming months to assess the ongoing economic landscape in Belize.
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