Costa Rica's June inflation rises to 6.55%

The rise in food and fuel prices on international markets continues to spur inflationary expectations in Costa Rica. These concerns were first expressed by the Central Bank early in the year.

Thursday, July 3, 2008

In June, the annual rate of inflation stood at 6.55 percent.
Not everyone is prepared to blame oil and food prices as the main culprit in the latest round of inflation. Some economists say the nation's monetary policy is also a major factor.
Eric Varga, an economic analyst, says the economy cannot continue to support the maintenance of negative real interest rates over the long term because this stimulates internal demand and promotes inflationary tendencies.

More on this topic

Dollar rate increasing in Costa Rica

May 2017

For the third time in less than 60 days, the Central Bank of Costa Rica has again raised the monetary policy rate, this time from 2.50% to 3%.

April 6 was the first time in the year that the Central Bank decided to raise the monetary policy rate (MPR), which had stood at 1.75% since January 2016. On April 27, again arguing short-term inflationary pressures, the entity raised the MPR from 2.25% to 2.50%. It has now been set at 3%, starting from May 19.

Costa Rica: Passive Base Rate rises to 6.55%

January 2014

The main benchmark rate for loans will remain at that level until at least January 29.

Last week the passive base rate stood at 6.50%, this week it has increased by 0.05%.

"This level of 6.55% was first reported in July 2013. Since then, the rate has continued to fluctuate between that percentage (6.55%) and 6.60% ".

Costa Rica: Inflation Rate Accelerated in October

November 2010

Inflation in October reached 5.25% for the year.

The increase in the month of October was 0.47%, which represents the largest monthly increase since May, the month which saw a 0.55%. rise.

According to a report released by the INEC, the five goods and services with the greatest contribution to the increase, two are regulated (water and transportation service) and two are agricultural products, which are closely related to climate conditions that affect supply (tomato and potato), and the fifth is coffee. Negotiated contracts for coffee in international markets have experienced a rise of more than 40% this year. Concerns about bad weather and outbreaks in major suppliers such as Vietnam and Colombia have influenced this increase.

Economic Weakness Deepens Fall of Inflation

July 2009

The consumer price index continues to show slower growth in Costa Rica. There was an increase of 0.17% in June.

In interannual terms, the indicator rose 8.2%. The accumulated variation in the first six months of this year was 1.21%, smaller than the 6.55% increase during the same period last year.

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