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.
Author: Jan Lammersen, Economist