Costa Rica's inflation to surpass 11%
A survey of economic forecasts shows that the average inflation rate expected for Costa Rica over the next 12 months is 11.7 per cent. A currency devaluation of 3.5 percent is also expected.
Thursday, June 19, 2008
The survey is carried out each month by the Central Bank to measure inflation and exchange rate expectations by analysts and experts. The survey covers businessmen, academics and consultants.
A group of private analysts who are consulting for the Bank of Guatemala are predicting that annual inflation will be 11.86 percent by year-end.
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.
The Costa Rican Colon is expected to depreciate less over the next twelve months, compared to what was expected a year ago, according to a survey made by the Central Bank of Costa Rica.
Experts believe that it is difficult for the Central Bank to meet the objectives of its macro-economic plan for this year and the next.
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