Income Up 13.3%, But Food Prices Erode Gains

BELIZE CITY, Thurs. July 2, 2026 — Average monthly income in Belize has risen 13.3 percent over the past four years, outpacing headline inflation of nearly 11 percent, but the sharper 18 percent increase in food prices suggests many lower-income households may have seen little improvement in their purchasing power.

The latest Labour Force Survey released by the Statistical Institute of Belize (SIB) shows that employed persons earned an average of $1,525 per month in April 2026, an increase of $27 from $1,498 recorded in April 2025.

Viewed over a longer period, however, average wages have increased more substantially. SIB data show that the average monthly income climbed from $1,350 in October 2022 to a high of $1,530 in September 2024 before easing slightly to $1,525 in April 2026. That represents an overall increase of 13.3 percent over the four-year period.

At first glance, the figures suggest that wages have generally kept pace with the cost of living. During roughly the same period, Belize's headline inflation—the Consumer Price Index measuring the average change in prices across a broad basket of goods and services—rose by almost 11 percent.

However, the headline figure masks sharper price increases in household essentials.

The Food and Non-Alcoholic Beverages component of the Consumer Price Index rose from 115.9 in October 2022 to 137.1 in May 2026—an increase of 18.3 percent, significantly higher than the overall rate of inflation.

That distinction is particularly important for lower-income households. Economists generally recognize that lower-income families devote a larger share of their household budgets to necessities such as food than higher-income families. As a result, while average wages have outpaced headline inflation overall, many households may nevertheless feel that their incomes have not kept pace with the rising cost of everyday living.

The latest income figures also suggest that wage growth has slowed after the stronger gains recorded during the post-pandemic recovery. Following the peak average monthly income of $1,530 in September 2024, average earnings dipped to $1,498 in April 2025 before recovering modestly to $1,525 this year.

The survey further indicates that the average income does not necessarily reflect what the typical employed Belizean earns.

While the mean (average) monthly income stood at $1,525, the median monthly income has remained at $1,260 since at least October 2022, according to SIB's statistical tables. Because the median represents the midpoint of all earners, the figures suggest that higher-income workers continue to lift the national average even though earnings for the typical worker have remained comparatively stable.

Income also varied considerably across occupations.

According to the Labour Force Survey, Professionals earned the highest average monthly income at $2,140, followed by Managers at $2,084. Together, those two occupational groups accounted for less than 14 percent of employed persons.

Workers in the informal economy earned an average of $1,297 per month, approximately 15 percent below the national average, while underemployed workers earned an average of just $603 monthly.

The income figures come against the backdrop of a labour market that continues to send mixed signals. Although the unemployment rate declined to 1.9 percent in April 2026, total employment fell by more than 12,600 persons compared with a year earlier as labour force participation also declined, particularly among women.