Costa Rica: Inflation accelerates in August
September 12, 2012
In August, consumer prices added 0.53% over the previous month, which contrasted the 0.30% drop recorded in July. The monthly increase came on the back of higher prices for housing and utilities. Building on the monthly reading, annual inflation rose from 3.9% in July to 4.2 % in August. Meanwhile, the core inflation index, which smoothens short-term fluctuations in the consumer price index, added 0.26% in August, which was above the 0.20% increase observed in July. Annual core inflation inched up from 3.6% in July to 3.7%. According to the latest revision to the Macroeconomic Programme 2012-2013, the Central Bank intends to maintain an inflation target of 5.0% (with a tolerance margin of +/- 1.0 percentage points) for both 2012 and 2013.