Inflation Rises as Consumer Confidence Slips in Belize

Recent figures coming out of the Statistical Institute of Belize indicate that Belizeans are continuing to feel the pressure of rising living costs as inflation climbed by two-point-nine percent in April compared to the same period last year. The latest Consumer Price Index report shows that higher prices for fuel, food, electricity, and restaurant services were among the main reasons for the increase.  Orange Walk Town recorded the highest inflation rate in the country at four-point-two percent, while Belize City recorded the lowest at two-point-four percent.  According to the SIB, transportation costs saw the biggest increase, rising by eight percent on average. Diesel prices jumped from eleven dollars and sixty-six cents per gallon in April of last year to fourteen dollars and sixty-eight cents this April. Regular and premium gasoline prices also increased significantly.  Food prices also continued to rise. Pork prices went up by more than sixteen percent, while the cost of limes increased by nearly thirty percent. Consumers also paid more for beef, turkey, grapes, and milk. However, some products such as tomatoes, black beans, pineapples, and watermelons became cheaper. Electricity and cooking gas prices also increased. The cost of a one-hundred-pound cylinder of LPG rose from one hundred twenty-seven dollars and sixty-three cents last year to one hundred thirty-six dollars and forty-seven cents this year.  The report also showed increases in restaurant and hotel services, along with higher medical costs, including doctor visits and healthcare services.  Meanwhile, the Statistical Institute says the inflation rate for the first four months of 2026 now stands at one-point-four percent, showing that prices continue to rise across several major areas of spending for Belizean households.  Recent figures coming out of the Statistical Institute of Belize also indicate that consumer confidence declined in April as many Belizeans expressed growing concern about the economy and their financial future.  According to the SIB’s Consumer Confidence Index, confidence dropped by three-point-seven percent, falling from forty-five-point-seven in March to forty-four-point-zero in April.  The report says consumers are becoming less optimistic about future economic conditions and their household finances over the next year. Many Belizeans also reported concerns about the current state of the economy as prices for fuel, food, and electricity continue to rise.  The SIB says the biggest decline came in the “Expectations” category, which measures how consumers feel about the future economy and their financial situation over the next twelve months.  At the same time, Belize’s external trade report showed that imports increased by twenty-one percent in April compared to the same month last year. The increase was largely driven by higher spending on fuel, machinery, manufactured goods, and food products.  According to the Statistical Institute, rising global fuel prices played a major role in the increase in import costs.  The Consumer Confidence Index is used as an early indicator of economic activity and reflects how consumers feel about the economy, their personal finances, and spending decisions.