From Cab-Drivers, to Restaurant Operators, and from Corner-Shop owners to Shipping Companies, they all say “We wish we could raise our price by 35%, but we can’t, otherwise we may loose customers”.
Most Belizeans already know that the price of many food items have gone up. But!, by how much have some food items increased. For the answer we look at recent data from the Statistical Institute of Belize.
The price of some food items have gone up as much as 47% in comparison with January 2021. Below is the list of basic food items and the increase in price, compared with January 2021.
Most notable is the price of Gasoline, which commuters and all passenger cars must use, (we can refrain from purchasing some food-items that have gone-up-a-lot), but you have to purchase either Regular Gas or Premium Gas if you want to drive anywhere, those fuels went up 29% and 35% respectively since January 2021.
Real World Example Of Price Increase & Inflation
If a business such as a Bus Operator or Water-Taxi spent $10,000.00 (ten thousand or $330 per day) on fuel in the month of January 2021, that will now cost them $13,500.00 (thirteen thousand, five hundred).
Q: what adjustments should that business make to off-set the new operating costs ?.
Written & Compiled by: channel1Belize.com / digitalBelize,LIVE Staff writer – Saturday, January 29th. 2022 – channel1belize@gmail.com