And while the Chamber plays the part of cheerleader, the Statistical Institute of Belize, is playing party pooper. They say inflation was up in January, 2017 with prices up almost 1% higher than in January of the previous year. And that is mostly due to the price of fuel, the price of a gallon of Diesel fuel was 40% higher this year than one year ago. That's just about three dollars more per gallon! Premium and regular gas also went up by about 20%, or about a dollar and 60 cents more per gallon.
In line with that, the SIB reports that airfares increased 47 percent when compared to last January, and that combined with increased bus fares for an overall 9.4 percent increase in transport costs.
Food prices went down a little, with decreases in the average prices of certain meats and vegetables and poultry. And while-rides were up in most municipalities, Punta Gorda and Dangriga both recorded decreases of 0.4 percent. Inflation was highest in Orange Walk Town at 2.6 percent, followed closely by Belmopan at 2.4 percent.
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