Today, the Statistical Institute of Belize published its latest statistics on the consumer price index, external trade, and the consumer confidence index for April 2024.
Consumer Price Index
Data from the Statistical Institute of Belize’s monthly Consumer Price Index (CPI) survey showed that, for April 2024, the All-Items CPI, which summarizes price levels across all categories of consumer goods and services, stood at 118.1. This was an increase from 113.7 recorded in April 2023, indicating a national inflation rate of 3.9 percent for the month. The year-to-date or cumulative inflation rate for the first four months of 2024, when compared to the same period in 2023, stood at 3.9 percent.
Click the following link to read more: Consumer Price Index, April 2024
Merchandise Trade
For the month of April 2024, Belize’s total imports were valued at $263.8 million. This represented a sizable increase of 30.7 percent or $62 million from the $201.9 million imported in April of 2023. Merchandise imports for the first four months of the year, January to April 2024, amounted to $984.3 million, representing a 16.6 percent or $140.4 million increase from the same period of 2023, when total imports were valued at $843.9 million.
Total domestic exports for the month of April 2024 amounted to $56.6 million, up by 23.2 percent or $10.7 million when compared to exports for April 2023, which were valued at $45.9 million. Merchandise exports for the period January to April 2024 totaled $125.2 million, up 1 percent or $1.2 million from $124 million during the same period of last year.
Click the following link to read more: External Trade, April 2024
Consumer Confidence Index
The Consumer Confidence Index (CCI) is an indicator that measures consumers’ sentiments concerning general economic conditions within the country, their household’s economic situation, and making major household purchases. It provides an early indication of future household spending, investing, and saving. With household spending being a major contributor to the overall economy, this in turn is an early indicator of future economic growth.
The CCI is an index number, ranging from 0 (completely pessimistic) to 100 (completely optimistic). Generally, a value greater than 50 indicates that consumers are more optimistic overall about the economy and their economic prospects. The CCI is comprised of three components: (1) perceptions about how present macroeconomic conditions and the household’s financial situation compare to twelve months prior; (2) expectations about economic conditions and the household’s financial situation over the coming twelve months; and (3) perceptions about whether the present is a good time for making major purchases of durable goods such as homes, cars, furniture, and appliances. An index is also produced for each of these three components, to provide more detailed information on what is driving consumer sentiment. The CCI is intended to provide information on how consumer sentiment moves in the short term; therefore, it is usually analyzed on a month-over-month basis.
For the month of April 2024, the national Consumer Confidence Index (CCI) stood at 37.0, representing a decrease of 17.4 percent from 44.8 in March 2024. This reduction follows several months during which a continuous general upward trend in consumer confidence was observed.
Click the following link to read more: Consumer Confidence Index, April 2024
