Costa Rica: Inflation accelerates in September
October 3, 2012
In September, consumer prices added 0.07% over the previous month, which was below the 0.53% increase recorded in August but contrasted the 0.16% drop in September last year. The monthly increase came on the back of higher prices for housing and utilities, which was partially offset by lower prices for food and non-alcoholic beverages. Building on the base effect, annual inflation rose from 4.2% in August to 4.5 % in September. Meanwhile, the core inflation index, which smoothens short-term fluctuations in the consumer price index, added 0.02% in September, which was below the 0.26% increase observed in August. Annual core inflation, however, inched down from 3.7% in August to 3.6%. 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 plus/minus 1.0 percentage points) for both 2012 and 2013.