Bread prices jump in Belize after 16 years

Belize: Bread prices in Belize have seen a surge in Belize as they went up by thirty-five cents on Saturday, June 1. It is an increase that was only really made public on Friday when a baker issued its new prices. It is to be noted that the last increase in bread price was done sixteen years ago in 2008 which is why this increase in prices comes as a shock for the citizens.

According to the information, it is a situation that has sparked upset, saying that the notice was not enough, and one that the Director of the Supplies Control Unit accepts.

Director Lennox Nicholson said that up to late last week negotiations with the bakers were still happening as several had rejected the 35 cents increase and were actually asking for the price to go up by one dollar. Despite that, however, Nicholson says the buck stopped with him and he should have done better.

As it relates to the increase, consumers are now paying two dollars and ten cents for a pack of 16-ounce white bread. It is the only kind of bread that has a regulated price.

Nicholson noted that all other types of bread are not price-regulated. “You may recall that back in August 2022, the government had allocated one point five million dollars to subsidize the bakers and to prevent an increase in bread. Today, however, Nicholson explained that the monies for the subsidy have been depleted,” he added.

He said that the subsidy that is offered to the bakers have come to a that program has the the funds for that have been depleted, so the  initial $1.5 million have been disbursed to all bakeries. Nicholas noted, “The most recent one was $0.75, but at some, at some points, it went as high as $1.10 for a slice of bread. That is correct. Increase. Right. Yeah. So we settled at $0.35.”