Inflation in Belize
Belize - InflationEconomic momentum in the first quarter likely cooled amid a less favorable base effect. Moreover, industrial output contracted notably and the merchandise trade deficit widened, further dragging on the overall economy. Moving into the second quarter, the removal of all Covid-19 restrictions from April onwards bodes well for the tourism sector. Following stellar growth in the first quarter, arrivals jumped just over 168% in April year on year, improving even further. This should feed back into firming domestic demand. However, elevated price pressures will likely impede household spending somewhat. Particularly, transport and food prices ballooned. Elevated inflation is linked to the spillover effects from the war in Ukraine, which has pushed up global energy and food commodity prices.
Belize - Inflation Data
|Inflation Rate (CPI, annual variation in %)||-0.9||0.7||1.1||0.3||0.2|
5 years of economic forecasts for more than 30 economic indicators.
Belize Inflation Chart
Source: Statistical Institute of Belize and FocusEconomics calculations.
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