According to the SIB, as of March 2021, the country experienced an overall national inflation rate of 1.5 percent. That means that on average, prices for items comprising the basket of goods and services commonly purchased by Belizean households were 1.5 percent higher than they were in March of last year.
With food prices trending steadily upwards since April of 2020, 'Food and Non-Alcoholic Beverages' had the highest rate of inflation among the major categories.
With an inflation rate of 1.9 percent, the towns of San Ignacio/Santa Elena experienced the highest increases in consumer prices for March 2021. Corozal Town recorded the lowest inflation rate of 0.8 percent, as consumers in this town experienced lower than average increases in prices for food items, pet food and restaurant services.
The cumulative inflation rate for the first three months of 2021, when compared to the first three months in 2020, stood at 1.3 percent. The most significant change was seen in the 'Food and Non-Alcoholic Beverages' category, which had a cumulative inflation rate of 5.2 percent.
