Costa Rica: Inflation edges down in February
March 7, 2018
Consumer prices rose 0.21% in February over the previous month, following a 0.41% month-on-month increase in January. According to the National Institute of Statistics and Census (INEC), the deceleration in February was primarily driven by lower prices for food and non-alcoholic beverages, and clothing and footwear.
Inflation moderated to 2.2% in February from 2.4% in January. As a result, it remained within the Central Bank’s 2.0%–4.0% target range. Meanwhile, annual average inflation inched up from 1.8% in January to 1.9% in February—the highest reading since October 2015.
Costa Rica Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to end this year at 3.2%, which is unchanged from last month's forecast. In 2019, the panel sees inflation ending the year at 3.4%.
Author: Javier Colato, Economist