Costa Rica: Inflation dips in May
June 8, 2018
Consumer prices fell 0.11% in May compared to the previous month, down from the 0.08% decrease recorded in April. According to the National Institute of Statistics and Census (INEC), May’s monthly price decline came on the back of lower prices for food and non-alcoholic drinks, and entertainment and culture.
Inflation decelerated to 2.0% in May from 2.4% in April, reaching the lower bound of the Central Bank’s 2.0%–4.0% target range. Meanwhile, annual average inflation was stable at April’s 2.0% print.
Costa Rica Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to end this year at 3.1%, which is down 0.1 percentage points from last month's forecast. In 2019, the panel sees inflation ending the year at 3.4%.
Author: Edward Gardner, Economist