Costa Rica Inflation August 2020

Costa Rica

Costa Rica: Consumer prices continue to fall in August albeit at a slower pace

September 9, 2020

Consumer prices were unchanged in August over the previous month, below July's 0.26% rise. The figure was primarily driven by softer growth in prices for food and non-alcoholic beverages, as well as in other goods and services.

Consumer prices fell 0.1% on an annual basis in August, a more moderate drop than July’s 0.2% fall, although it still marked the second-sharpest decline in consumer prices since June 2016. Meanwhile, the trend pointed down, with annual average inflation coming in at 1.2% in August (July: 1.5%).

FocusEconomics Consensus Forecast panelists expect inflation to end 2020 at 0.8%, which is up 0.2 percentage points from last month's forecast, and 2021 at 2.7%.

Author:, Junior Economist

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Costa Rica Inflation Chart

Costa Rica Inflation August 20 20 4

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

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