Costa Rica Inflation October 2019

Costa Rica

Costa Rica: Inflation decelerates in October

November 7, 2019

Consumer prices fell 0.1% in October in month-on-month terms for the third consecutive month, partly due to the continued high-base effect stemming from the introduction of VAT in July, which replaced the old sales tax. October’s decrease was driven by lower prices for transport, likely due to lower fuel costs.

Inflation moderated to 2.1% in October from 2.5% in September, but remained within the Central Bank’s 2.0%–4.0% target range. Annual average inflation was unchanged at 2.2% in October for the third consecutive month.

FocusEconomics Consensus Forecast panelists expect inflation to end 2020 at 2.7%, which is down 0.2 percentage points from last month's forecast, and 2021 at 3.0%.

Author:, Economist

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Costa Rica Inflation Chart

Costa Rica Inflation October 2019

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

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