Inflation in Costa Rica

Costa Rica Inflation | Economic News & Forecasts

Costa Rica - Inflation

Inflation drops to lowest level since May in October

Inflation fell to 9.0% in October, following September’s 10.4%. October's figure marked the lowest inflation rate since May. The reading was largely due lower price pressures for transport, housing and clothing.

Annual average inflation rose to 7.5% in October (September: 7.0%).

Finally, consumer prices fell 0.76% from the previous month in October, a more moderate decrease than the 0.95% fall logged in September.

On the outlook for inflation, EIU analysts commented:

“Our central scenario assumes that prices will continue to drift down towards the BCCR's target band for several more months. However, the pace of this trend will depend on developments in global food and fuel markets, over which the government has little control.”

Our panelists project inflation to end 2023 at 4.9%, which is up 0.2 percentage points from last month’s forecast, and 2024 at 3.9%.

Costa Rica - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.8  0.0  1.6  2.2  2.1  

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Costa Rica Inflation Chart

Costa Rica Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Costa Rica Central Bank and FocusEconomics calculations.

Costa Rica Facts

Value Change Date
Exchange Rate571.0-0.57 %Jan 01

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