Costa Rica: Inflation drops to over one-year low in March
April 4, 2015
Consumer prices rose 0.15% in March over the previous month, contrasting February’s 0.17% decrease. According to the Statistics Institute, the reading mainly reflects that higher prices for transport more than offset lower prices for food and non-alcoholic beverages and for leisure and culture.
Annual headline inflation fell from February’s 3.5% to 3.0% in March, the lowest reading since February 2014. As a result, inflation rests at the lower bound of the Central Bank’s tolerance margin of plus/minus 1.0 percentage point around its 4.0% target. Annual average inflation remained at February’s 4.7% in March.
The core inflation index, which strips out short-term fluctuations in the consumer price index, rose 0.10% in March over the previous month (February: +0.22% month-on-month). Annual core inflation came in at 3.2%, which was down from February’s 3.8%.