Costa Rica Inflation

Costa Rica

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.


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Costa Rica Inflation Chart

Costa Rica Inflation December 2012

Note: Annual and monthly variation of consumer price index in %.
Source: Costa Rica Central Bank (BCCR).

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