Costa Rica: Inflation closes year within Central Bank's target
January 3, 2013
In December, consumer prices added 0.28% over the previous month, which was below the 0.81% increase recorded in November. The monthly increase came on the back of higher prices for food and non-alcoholic beverages as well as for housing and utilities. That said, transport prices fell notably over the previous month.
As a result, annual inflation eased from 5.2% in November to 4.6% in December, thus ending the year within the Central Bank's target of 5.0% with a tolerance margin of plus/minus 1.0 percentage points.
Meanwhile, the core inflation index, which strips out short-term fluctuations in the consumer price index, added 0.26% in December, which was below the 0.35% increase observed in November. Annual core inflation moderated from 3.4% in November to 3.3%.
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) this year.