Costa Rica Inflation August 2017

Costa Rica

Costa Rica: Inflation eases again in August

September 8, 2017

Consumer prices decreased 0.22% in August on a monthly basis, the first monthly decrease in prices since March and contrasting the previous month’s 0.32% rise. According to data released by the National Institute of Statistics and Censuses (INEC), the drop was chiefly driven by lower prices for food and non-alcoholic beverages, offsetting higher prices for goods such as alcoholic beverages and cigarettes.

Inflation eased for the second consecutive month and dropped from 1.2% in July to 0.9% in August, marking the second weakest reading in the year to date. Subsequently, inflation drifted further away from the Central Bank’s inflation target of 2.0%-4.0%. Conversely, annual average inflation came in at 1.1%, a notch above the previous month’s 1.0%—annual average inflation has been on the rise for more than a year.

FocusEconomics Consensus Forecast panelists expect inflation to end 2017 at 2.8%, which is down 0.1 percentage points from last month's forecast. In 2018, the panel sees year-end inflation rising to 3.6%.

Author:, Economist

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Costa Rica Inflation Chart

Costa Rica Inflation August 2017

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

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