Costa Rica Inflation May 2022

Costa Rica

Costa Rica: Inflation comes in at highest level since May 2009 in May

June 8, 2022

Consumer prices rose 1.44% from the previous month in May, moderating from the 1.58% increase seen in April. Looking at the details of the release, housing prices dropped in May compared to the previous month, while price pressures for gasoline and transportation eased.

Inflation came in at 8.7% in May, which was up from April’s 7.2%. May's reading marked the highest inflation rate since May 2009. Meanwhile, the trend pointed up, with annual average inflation coming in at 3.9% in May (April: 3.3%).

Our panelists project inflation to end 2022 at 3.8%, which is up 0.3 percentage points from last month’s forecast, and 2023 at 2.9%.


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Costa Rica Inflation May 2022

Note: Annual and monthly variation of consumer price index in %.
Source: National Institute of Statistics and Census (INEC).


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