Costa Rica Inflation January 2019

Costa Rica

Costa Rica: Inflation falls below Central Bank target range in January

February 8, 2019

Consumer prices rose 0.05% in January compared to the previous month, down from 0.21% in December. According to the National Institute of Statistics and Census (INEC), January’s price rise came on the back of higher prices for rent and housing services, in addition to more expensive education. On the other hand, lower prices for food and non-alcoholic beverages, transport, and alcoholic beverages and cigarettes weighed on the overall reading in January.

Inflation moderated to 1.7% in January from 2.0% in December, which is below the Central Bank’s 2.0%–4.0% target range and the lowest reading since September 2017. Annual average inflation held steady at 2.2% in January.

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 3.1%, which is also unchanged from last month’s forecast.

Author:, Economist

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Costa Rica Inflation Chart

Costa Rica Inflation January 2019

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

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