Transport costs surge 13.6% as inflation climbs to 4.6% in June

Transport costs continued to drive inflation in Belize, rising 13.6 percent in June compared with the same month last year as higher fuel prices, bus and taxi fares, and international airfares pushed the country's overall inflation rate to 4.6 percent.

According to the Statistical Institute of Belize's latest Consumer Price Index (CPI) release, the Transport category remained the single largest contributor to inflation for the fourth consecutive month. Together with Food and Non-Alcoholic Beverages and Housing, Water, Electricity, Gas and Other Fuels, these three categories accounted for more than three-quarters of the overall increase in consumer prices.

The sharp increase in transport costs was largely driven by higher fuel prices. Diesel recorded the steepest increase, rising 34.3 percent from an average of $11.42 per gallon in June 2025 to $15.33 in June 2026. Regular gasoline increased 19.2 percent to $13.78 per gallon, while premium gasoline rose 17.7 percent to $15.55 per gallon. Passenger transport services also became 15.5 percent more expensive due to higher bus and taxi fares and increased international airfares.

Nationally, the All-Items Consumer Price Index rose from 119.7 in June 2025 to 125.3 in June 2026, reflecting an annual inflation rate of 4.6 percent.

Food and Non-Alcoholic Beverages recorded inflation of 3.2 percent, led by higher prices for fresh meats, sugar, fruit-bearing vegetables and bakery products. Housing, Water, Electricity, Gas and Other Fuels increased 3.9 percent as electricity and water tariffs, liquefied petroleum gas (LPG) prices and home rental costs all moved higher. Health costs rose 7.0 percent, while Restaurants and Accommodation Services increased by 3.4 percent.

Among municipalities, San Ignacio/Santa Elena recorded the highest annual inflation rate at 6.0 percent, reflecting broad-based price increases across transport, groceries, utilities, medical services, restaurants and clothing. San Pedro experienced the lowest inflation rate at 3.4 percent.

Despite the strong annual increase, consumer prices were relatively stable between May and June. Month-over-month inflation measured just 0.1 percent, as a 0.8 percent rise in food prices was largely offset by a 0.5 percent decline in transport costs following a reduction in regular gasoline prices during the month.

For the first six months of 2026, Belize's year-to-date inflation rate stood at 2.5 percent. Transport remained the largest contributor over that period as well, with prices up 5.3 percent year-to-date, followed by Food and Non-Alcoholic Beverages and Housing, Water, Electricity, Gas and Other Fuels, both of which increased 2.1 percent.