The consumer price index in Belize rose 1.7% in February 2014 compared to February 2013. Food and housing prices were the major contributors to inflation. Specifically, the price of vegetables, meats, butane gas, and house rentals in certain areas increased. The transport index also rose due to higher airfares and driver's license fees, despite lower gasoline and diesel prices. Dangriga and Corozal Town saw the highest inflation rates in February.

1. BelizeCPIConsumer Price Index
Statistical Institute of Belize
1902 Constitution Drive
Belmopan City, Belize C.A.
Phone: 501.822.2207 / 2352
Fax: 502.822.3206
Email: info@mail.sib.org.bz
Web: www.sib.org.bz
FEBRUARY 2014
Inflation at 1.7% in February
Figures released by the Statistical Institute of Belize show
that in February 2014 the consumer price index was 103.7,
up 1.7 percent from 102.0 in February 2013. Food and
Housing, Water, Electricity, Gas and Other Fuels were the
two major contributors to this month’s inflation rate.
The 3 percent hike in the food index was driven mainly by
higher prices for vegetables and meats. As shown in Table
1 below, cabbage, sweet pepper, tomato, Black Beans
and Red Kidney Beans all rose by over 20 percent while
the average price for a pound of ground beef rose by 23
percent to $5.15.
The cost of butane was 10 percent higher during the month,
with the average price of a 100-pound cylinder rising from
about $114 to almost $126 due to higher acquisition costs.
The cost of house rentals, particularly in Dangriga, San
Ignacio/Santa Elena and Belize City, increased by almost
2 percent.
As had been noted in previous months, international
airfares and higher drivers’ license fees were the main
drivers behind a 1.5 percent increase in the Transport
index, offsetting lower gasoline and diesel prices. Higher
nightclub entrance fees in three of the seven municipalities
resulted in a 2.2 percent increase in Recreation and
Culture.
As shown in Table 2, the highest inflation rates were in
Dangriga and Corozal Town, while the lowest was in Punta
Gorda Town.
Table 1: Average Prices of Selected Foods and Fuel,
February 2013 and February 2014
Item Feb. 2013 Feb. 2014 % Change
Ground Beef 1 Lb 4.20 5.15 á 22.6
Beef Steak 1 Lb 6.27 6.49 á 3.7
Rice (Retail) 1 Lb 1.08 1.15 á 6.4
Flour (Gitana) 1 Lb 0.94 0.96 á 2.2
White Sugar 1 Lb 0.52 0.54 á 3.6
Red Kidney Beans 1 Lb 2.07 2.76 á 33.2
Eggs 1 Dozen 3.22 3.58 á 11.2
Condensed Milk (Dutch Lady) 397 G 2.41 2.49 á 3.3
Milk (La La Light) 1 Litre 3.12 3.14 á 0.6
Yellow Onions 1 Lb 1.94 2.15 á 11.2
Sweet Pepper 1 Lb 3.56 4.27 á 20.0
Whole Chicken 1 Lb 2.62 2.75 á 5.0
Premium Gasoline 1 Gal 11.50 11.29 â -1.8
Regular Gasoline 1 Gal 11.17 10.92 â -2.3
Diesel 1 Gal 10.99 10.63 â -3.2
Butane 100 Lbs 114.15 125.89 á 10.3
For more information contact Data Dissemination Department at
telephone numbers 822-2207/2352 or e-mail at info@mail.sib.org.bz. An
Excel version of the tables contained in this release can be downloaded
from our website at www.sib.org.bz
March 26, 2014
Figure 3: Inflation Rates by Municipality;
February 2014
0.1
0.8
-0.3
0.1
-0.1
1.7
2.7
2.2
1.5
1.1
All Items Food &
Non-Alc. Bev.
Housing, Water,
Elec, Gas,
& Other Fuels
Transport All Other Goods
& Services
Percent
February 2013 Febuary 2014
Figure 2: Monthly Inflation Rates (%) by Categories of Goods and Services;
February 2013 and February 2014
101.9 102.0
103.7
104.5
105.5
100.0
113.5
111.8
108.7
Feb-11
Apr-11
Jun-11
Aug-11
Oct-11
Dec-11
Feb-12
Apr-12
Jun-12
Aug-12
Oct-12
Dec-12
Feb-13
Apr-13
Jun-13
Aug-13
Oct-13
Dec-13
Feb-14
ConsumerPriceIndex
Figure 1: All-Items, Food & Fuel Indices;
February 2011 - February 2014
All Items Food Fuel