The SIB also released its latest figures on the Consumer Price Index for the last eight months, from January to August.
The CPI is used to calculate the inflation rate, which is the percentage change in the prices between 2 specific periods. According to the SIB's assessment, the cumulative inflation rate for the first eight months of 2022 stood at 6% compared to the same period last year.
Here's how Statistician Melvin Perez made the point today that the high cost of fuel contributed significantly to that:
https://youtu.be/
We turn now to the assessment of how the price of food regularly purchased by Belizean households continues to increase. Here are those figures from Melvin Perez:
According to the SIB, the Belizean municipality with the highest inflation rate was Orange Walk Town, at 8.7%. Conversely, Belmopan had the lowest rate at 4.8%, followed by San Pedro Town at 5.1% and Independence Village at 5.2%.
