Costa Rica: Inflation eases in July
August 8, 2017
In July, consumer prices rose 0.32%, coming in above June’s 0.08% increase. According to the National Institute of Statistics and Censuses (INEC), the acceleration was driven by higher prices food and non-alcoholic beverages and housing, which more than offset lower prices for transportation and communication. July’s print was the highest since February.
Inflation eased to 1.2% in July (June: 1.8%) and marked the weakest reading in five months. As a result, inflation remained below the Central Bank’s 2.0%–4.0% target range. Meanwhile, annual average inflation was steady at the previous month’s 1.0%.
Author: Jan Lammersen, Economist