Costa Rica: Inflation Rate Accelerated in October

Inflation in October reached 5.25% for the year.

Tuesday, November 2, 2010

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.

The decrease of 1.97% in gasoline largely offset the increases. The cumulative variation of prices for goods and services not covered through September is 3.18%, while those covered is 6.56%, of which 79% was in January. In September, Costa Rica was the fourth highest inflation in Latin America, behind Venezuela (28.50%) Argentina (11.10%) and Uruguay (6.32%). Despite the higher price increase in October, compliance with the inflation target of 5% + / - 1%, designated by Central Bank of Costa Rica (BCCR) is practically a given. The careful management of monetary variables, the appreciation of the colon, lower domestic demand and record international price of fuel does not pose significant inflationary pressures in the short term.

In the medium and long term, there are important indicators of core inflation, which is about 2% (minimum 10 years) and inflation expectations, which in October fell 7% to 6.6% (according to the survey BCCR), are important components in building future inflation, which can predict a lower inflation scenario.



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Despite the consumer price index recording a monthly variation of 0.68%, it was not enough to prevent inflation remaining in negative territory.

The groups which made the greatest contribution to the CPI in January 2016 were: Food and non-alcoholic beverages and Rent and housing services, as reported by the National Institute of Statistics and Census.

Costa Rica's Inflation Reaches 5.7%

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While in October the monthly variation in the consumer price index was -0.29%, annual inflation in the same month reached 5.70%.

From a statement issued by the Institute of Statistics and Census of Costa Rica (INEC)

In October the groups having a negative percentage change in the price were:

Costa Rica: Inflation to October at 3.47%

November 2011

The cumulative change in the general index of prices over the first 10 months of the year (January to October 2011) is less than in the same period of last year (4.36%).

Costa Rica's National Statistics Institute (INEC) issued a press release stating that the year on year change in the General Consumer Price Index (IPC in Spanish) is also lower than last year - 4.93% compared to 5.25%.

Costa Rica: Inflation Decreases in May

June 2009

Inflation, which had exceeded the two annual measurement figures since November 2008, has been declining.

In May, the Consumer Price Index (CPI) was the lowest this year, according to data from the National Institute of Statistics and Censuses (INEC).

Edgar Delgado Montoya wrote for the web edition of El Financiero: "It's the first time that the increase was in single digits since October 2007.

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