Inflation in Costa Rica

Costa Rica - Inflation (end of period)
Inflation comes in at highest level since May 2009 in May
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%.
Costa Rica - Inflation (eop) Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Inflation Rate (CPI, annual variation in %, eop) | -0.8 | 0.8 | 2.6 | 2.0 | 1.5 |
Costa Rica Inflation (eop) Chart

Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
Value | Change | Date | |
---|---|---|---|
Exchange Rate | 571.0 | -0.57 % | Jan 01 |
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Economic News
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Costa Rica: Economic activity records weakest reading since February 2021 in April
June 10, 2022
Economic activity increased 5.0% in April (March: +8.7%).
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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.
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Costa Rica: Central Bank carries out fourth consecutive rate hike at April meeting
April 27, 2022
At its 27 April meeting, the Central Bank of Costa Rica (BCCR) raised the monetary policy rate by 150 basis points to 4.00%, marking the fourth consecutive hike since December 2021. The decision came amid the highest inflation figure since November 2014 in March and thus went further above the upper bound of the Bank’s 2.0–4.0% target band.
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Costa Rica: Inflation comes in at highest level since November 2014 in March
April 7, 2022
Consumer prices increased 0.88% in March over the previous month, following the 1.09% rise seen in February.
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Costa Rica: Q4 GDP records softest reading since Q1 2021
March 31, 2022
GDP growth moderated to 9.2% year-on-year in the fourth quarter, from 12.6% in the third quarter.