And while the price of chicken may be going down, according to the Statistical Institute of Belize, the cost of living has gone up. It is probably news to no one because we’ve been feeling it but according to the Institute, between August 2007 and August 2008 the consumer price index rose by 9.6%. That is the highest it has risen in any 12 month period within the last 25 years. But we shouldn’t feel alone because it is in line with the rest of the region.
The rate of inflation also soared by 17.9% in food, beverages, tobacco and 9.1% on transportation and communication. The price of flour and rice rose by more than 50% and beans by 42.9% and bread by 34.6%. Diesel rose by 45% and gasoline by only 9.3%.
The Statistical Institute predicts the rate of inflation for 2008 will be 8%. See the numbers at StatisticsBelize.org.bz.
