The Statistical Institute of Belize says that prices in May of this year were 1% lower than the year before - putting inflation at minus 0.9%. And declining 'Transport' costs account for the difference, because of lower fuel prices. The SIB notes that "International airfares were also significantly lower, declining by almost one fourth compared to last May." And the price for Butane, or LPG fell by nine dollars from May of last year to May 2015.
For food items, the price of beef products rose sharply, more than 10 percentage points while Red Kidney beans were down by more than one third compared to last May.
Dangriga was the only municipality where an overall increase in consumer prices - 1.8% was recorded in May. The biggest average drop was seen in Belmopan, which had an inflation rate of negative 2 percent, followed by San Ignacio/Santa Elena with negative 1.8 percent.
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