By Breaking Belize News Staff (HP): A rise in fuel prices has driven a noticeable increase in the cost of living for Belizeans, with inflation climbing to 4.3 percent as of May 2026.
The figures come from the Statistical Institute of Belize, with Statistician Jaime Crespo breaking down the numbers. According to Crespo, inflation stood at 2.8 percent in May 2021 before rising sharply to a peak of 7.4 percent in mid 2022. It then generally trended downward from 2023 through 2025, but has crept back up during the first five months of 2026, now sitting at 4.3 percent.
Looking at the bigger picture, Crespo noted that the all items Consumer Price Index rose from 103.1 in May 2021 to 124.8 in May 2026, showing that consumer prices have continued to climb over the past five years. The steepest jump came between 2021 and 2022, while prices rose at a slower pace from 2023 to 2026.
When comparing the first five months of 2026 to the same period in 2025, Crespo said the cost of goods and services purchased by households went up by 2 percent on average, driven by increases across almost all major categories.
Leading the way was the transport category, where prices rose by 3.5 percent, mainly due to higher fuel costs. The price per gallon for regular fuel went up by 7.1 percent, premium increased by 2.2 percent, and diesel saw the sharpest rise at 11.1 percent.
The housing, water, electricity, gas and other fuels category also saw prices increase by 1.5 percent, which Crespo attributed mainly to a rise in the cost of electricity implemented at the start of the year.
Notably, the figures also showed a dip in consumer confidence, which fell by 6.2 percent in May 2026, a sign that the rising cost of living is weighing on households.
The post The cost of living is rising in Belize, and fuel is to blame appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Breaking Belize News Staff (HP): A rise in fuel prices has driven a noticeable increase in the cost of living for Belizeans, with inflation climbing to 4.3 percent as of May 2026. The figures come from the Statistical Institute of Belize, with Statistician Jaime Crespo breaking down the numbers. According to Crespo, inflation stood at
The post The cost of living is rising in Belize, and fuel is to blame appeared first on Belize News and Opinion on www.breakingbelizenews.com.
